Ripple burned another 10 million $RLUSD tokens, continuing a series of cash supply reductions that have gradually reduced the circulating supply of its U.S. dollar-backed stablecoin.
According to blockchain data shared by Ripple Stablecoin Tracker, 10 million $RLUSD were sent to a null address from $RLUSD Treasure Tuesday. This means that the token has been removed from circulation.
The latest burn follows a series of nearly identical treasure operations over the past week.
The tracker made 10 million $RLUSD burns on July 13, July 10 (twice), July 9, July 8, July 7 and July 6. The most recent minting took place on July 6 (Ripple created 20 million $RLUSD).
$RLUSDmarket capitalization falling from its peak
The repeated burns coincided with a decline $RLUSDthe supply in circulation.
According to data from CoinGecko, $RLUSD Currently has a market capitalization of approximately $1.52 billion.
This is a notable drop from late May, when $RLUSDThe market capitalization rose briefly to around $1.9 billion.
$RLUSDCirculating supply is down about $380 million, or about 20%, from its peak.
Fiat-backed stablecoins such as $RLUSD Regularly undergo minting and burning to align circulating supply with customer demand. New tokens are issued when institutional clients deposit dollars to issue additional stablecoins. At the same time, tokens are burned when users redeem them. $RLUSD for US dollars.
It should be noted that treasure disappearances do not necessarily indicate weakening adoption.
$RLUSDthe recent victories of
Ripple continued its expansion $RLUSDThe usefulness of in various sectors. Earlier today, Ripple announced that it had joined the new Linux Foundation organization to integrate stable payments for AI agents.
Ripple said AI agents can already transact using $RLUSD via x402 on XRP Ledger, as the company strives to establish open standards for autonomous machine-to-machine payments.
On Monday, the company announced that its Ripple Effect initiative with Hire Heroes USA would use funding made possible through a $RLUSD donation to provide $250,000 in grants.
