Ripple Cranks Up XRP Ledger Stablecoin Mints, Adds $30M in 5 Hours

Ripple has significantly increased its minting of RLUSD on the XRP Ledger in recent days. According to data from RL Tracker, a community-driven RLUSD tracker, Ripple minted $30 million worth of RLUSD on August 17 within five hours.

The company first minted $10 million in RLUSD at 03:21 UTC, followed by another $20 million at 08:56 UTC. This brings the total amount of RLUSD minted on the XRP Ledger since August 14 to $60 million.

Meanwhile, Ripple has also been actively burning RLUSD on Ethereum, with a net increase of $203 million in RLUSD supply over the past 30 days. The XRP Ledger still holds more RLUSD than Ethereum, with $879.499 million in RLUSD sitting on the XRPL compared to $851.518 million on Ethereum.