Ripple Burns 99% of Newly Minted Stablecoins

Ripple's stablecoin RLUSD saw significant activity on the XRP Ledger over a 30-day period. During this time, Ripple minted $449.3 million worth of RLUSD tokens.

However, nearly all of these newly minted tokens were quickly burned by the same system, effectively removing 99% of them from circulation. This means that only $0.4 million worth of RLUSD remains in existence.

This move highlights Ripple's active management of its stablecoin supply and could impact liquidity and market dynamics on the XRP Ledger going forward.