8,104,394 Ripple RLUSD Stablecoin in 24 Hours: Whats Happening?

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8,104,394 Ripple RLUSD Stablecoin in 24 Hours: Whats Happening？

In the last 24 hours, Ripples RLUSD stablecoin has seen significant movement across unknown wallets. According to on-chain data, 12 transactions involving RLUSD were recorded in this time frame, totaling 8,104,394 RLUSD. The most recent transaction involved 588,029 RLUSD, which was moved between two unknown wallets.

Ripple Stablecoin Tracker, a community account on X tracking the minting, redemption and transfer of Ripples RLUSD, reports transactions involving the RLUSD stablecoin within the last 24 hours: 588,029 RLUSD went from one unknown wallet to another, and several other transactions ranged between 500,000 and 1,000,000 RLUSD apiece. The total amount moved across these 12 transactions was 8,104,394 RLUSD.

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The transactions are as follows: 588,029 RLUSD and four transactions of 600,000 RLUSD moved between unknown wallets; two transactions of 500,000 RLUSD moved between unknown wallets; 586,230 RLUSD and 980,220 RLUSD were transferred between unknown wallets; and two transactions of 1,000,000 RLUSD and 549,915 RLUSD were transferred between unknown wallets.

Ripple stablecoin gains traction

Since its launch on Dec. 17, Ripple stablecoin has gained traction in recent weeks. Major crypto exchange Bitstamp recently announced the addition of Ripple USD (RLUSD) on the Ethereum network to its range of assets. RLUSD is intended for institutional-grade financial use cases, such as payments and tokenization.

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The following pairs have been added to the Bitstamp platform: RLUSD/Euro EUR, RLUSD/USD Dollar, RLUSD/USDT, RLUSD/Bitcoin BTC, RLUSD/Ethereum ETH and RLUSD/XRP.

Ripple President Monica Long expects to see RLUSD on more platforms “imminently” and also shared her expectation of an XRP ETF soon.

In a recent tweet, the Ripple president indicated that with the stablecoin market poised for exponential growth this year, use cases such as on/off ramps, access to USD and enterprise cross-border payments would only become more robust, bolstered by complementary assets like XRP.

This week, Ripple announced that RLUSD has adopted the Chainlink standard for verifiable data to fuel DeFi adoption with real-time, secure pricing data.