Ripple Burns 15M RLUSD Tokens Amid Growing Market Cap

Ripple has continued to manage its RLUSD stablecoin supply through large treasury transactions. On September 10, the company burned another 15 million tokens worth approximately $15 million by transferring them to an Ethereum null address.

This move came after several large RLUSD mints earlier in the month, including 18 million tokens minted on September 7 and 20 million minted on September 4. A separate 10 million token burn was recorded on September 8, followed by a new mint of around 14.39 million tokens.

The recent supply reductions have not stopped RLUSD's market capitalization from climbing, with the chain's market cap standing at about $2.42 billion at press time, up from approximately $1.74 billion on August 18.