Ripple Mints $200M RLUSD on XRPL, Burns $100M on Ethereum

TLDR

• Ripple minted $200 million worth of RLUSD on the XRP Ledger, marking the largest single mint in the network’s history.
• The company also burned $100 million worth of RLUSD on Ethereum on the same day, reducing supply on that blockchain.
• Total RLUSD minted on XRPL reached $245 million on May 20, while $57.9 million was burned, resulting in a net increase.
• The RLUSD supply on the XRP Ledger rose to $690 million, more than doubling over the past two months.
• On Ethereum, RLUSD supply declined to about $1.06 billion following a net outflow of $90.8 million.
• Across both networks, RLUSD’s total market cap climbed to approximately $1.75 billion after a weekly increase of $190 million.

Ripple minted $200 million worth of RLUSD on the XRP Ledger on May 20. The transaction marked the largest single RLUSD mint on the network to date. On the same day, Ripple burned $100 million of RLUSD on Ethereum, shifting supply between chains.

RLUSD Supply Expands on XRP Ledger

Ripple executed the $200 million mint at 12:42 PM UTC on May 20. On-chain data confirmed it as the largest RLUSD issuance on XRPL. The previous record stood at $92.3 million from April 1. The latest mint more than doubled that earlier figure.

Ripple followed the major transaction with several smaller mints. These included $30 million, $5 million, and $1.9 million later that day. In total, Ripple minted $245 million worth of RLUSD on XRPL on May 20. It also burned $57.9 million on the same network.

The net supply increase on XRPL reached $187.3 million for the day. This marked the highest intraday expansion recorded on the ledger. RLUSD supply on XRPL has now climbed to $690 million. Two months earlier, the figure stood near $300 million.

Ethereum Burn Reduces RLUSD Circulation

Ripple burned $100 million worth of RLUSD on Ethereum at 8:01 PM UTC. This became the largest single burn recorded for the token on Ethereum. The previous burn record reached $99.9 million on April 1. The latest transaction slightly exceeded that level. Earlier that day, Ripple minted smaller amounts on Ethereum. These included transactions of $1.99 million, $1 million, and $10.28 million.

Total Ethereum mints reached $16.4 million for May 20. However, total burns reached $107.2 million for the same period. The net outflow on Ethereum stood at $90.8 million. This reduced RLUSD supply on Ethereum to $1.06 billion.

Recent data shows fluctuating supply changes on Ethereum. These include drops of $89.3 million and $50.7 million in April. Combined across both blockchains, RLUSD supply reached $1.75 billion. Weekly supply increased by $190 million, driven mainly by XRPL activity.

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