Ripple's stablecoin treasury executed a massive string of token burns on Thursday, destroying over 35 million RLUSD in a matter of hours and sparking widespread speculation across the cryptocurrency community.
Ripple's stablecoin treasury executed a massive string of token burns on Thursday, destroying over 35 million RLUSD in a matter of hours and sparking widespread speculation across the cryptocurrency community.
According to the latest data compiled by the Ripple Stablecoin Tracker, the treasury recently executed a massive burn of 26 million RLUSD on Thursday afternoon. This was just one of several large-scale transactions that rapidly removed supply from circulation across both the Ethereum and XRP Ledger networks. $50.4 Million XRP Transferred to Coinbase Ahead of Ripple Escrow Unlocking, Painful 96.8% Bitcoin Metric Highlighted by CryptoQuant, Is Saylor's BTC Buying Streak Finally Over?: Morning Crypto ReportOn March 26, 35 million tokens were removed from the market during a relatively short timeframe. The tracked burns include the massive initial 26 million RLUSD transaction on the Ethereum network. It was followed shortly by a 5 million RLUSD burn. Additional burns of 2.9 million RLUSD, 1.9 million RLUSD were then recorded via the XRPScan service. When users or institutions redeem their RLUSD for underlying U.S. dollars, Ripple burns the corresponding digital tokens to keep the ledger balanced.After the market cap of the high-flying stablecoin swelled to $1.6 billion, it then shrunk down to the $1.4 billion range within a relatively short span of time. Prominent crypto lawyer and XRP community commentator Bill Morgan recently noted on X that it"seems to have passed largely unnoticed that there has been a large volume of RLUSD that has been burnt over the last two weeks. He has asked the community whether this is simply healthy liquidity management or something else entirely. "The graph shows that this two-week period is largely different from what has happened so far. This is not a noticeable drop from a single burn but from a series of burns within a short period of time," he said. Finnovex North Africa 2026: Catalyzing Egypt’s Fintech Revolution Through Smart Finance and Regulatory Transformation
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