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X Ripple Stablecoin Tracker account, which monitors RLUSD Transfers made by Ripple and various anonymous wallets, spread the news that over the past 24 hours, approximately 21 million Ripple USD stablecoins have been scraped.
It released details of dozens of cryptocurrency transfers, each carrying at least 1 million RLUSD.
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20.7 million RLUSD on the go
The aforementioned data source revealed twelve transactions showing that anonymous wallets transferred portions between 1 million and 3.5 million RLUSD to other unknown blockchain addresses.
Overall, according to RL Tracker, approximately 20.7 million RLUSD have been transferred since last morning. The largest transfers carried 3,500,000, 3,039,009 and 3,500,000 Brazilian reals.
1,221,000 RLUSD has been minted in the Ripple treasury as revealed by the tracker.
The stablecoin was officially launched on both the XRPL and Ethereum chains, in early December after being in closed beta since August when Ripple continued minting and then burning stablecoins. According to the recently published white paper, the company intends to use the new product to improve cross-border payments and transfers between businesses, as well as the entry and exit processes of fiat currencies.
To date, over 80 million RLUSD stablecoins have been minted by the blockchain powerhouse and appear to be entirely backed by US dollars and cash equivalent reserves. Later this month, Ripple intends to issue a certification report that will reveal its holdings of the assets it uses to support RLUSD.
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Ripple CEO Statement to RLUSD
In an interview with Bloomberg. Monica Long, President of Ripple, said: She expects 2025 to be a big year for cryptocurrencies in general, not just for Ripple and RLUSD. Therefore, she believes that the demand for stablecoins will rise and here the Ripple USD token will be beneficial for financial institutions and retail users as well.
So far, the new stablecoin has been adopted by a few platforms, including Bitstamp and Bullish. However, Long expects other large cryptocurrency exchanges to follow suit very soon, and RLUSD overall will gain widespread adoption across the cryptocurrency and blockchain space.
Monica Long also believes that in 2025, the SEC will continue to approve cryptocurrency-based ETFs, and she believes the XRP ETF will be among them, and perhaps even the next one after approving Bitcoin and Ethereum ETFs last year. .
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