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Ripple Network Sees Nearly $20M RLUSD Shifted in Post-Minting Transfers
In a significant development, the Ripple network has witnessed nearly $20 million worth of RLUSD (Ripple’s new stablecoin) being shifted in post-minting transfers. These transactions have raised speculation that the company is actively promoting its new asset and building liquidity.
According to reports, an undisclosed amount of RLUSD was minted and subsequently transferred between anonymous wallets, with several large transactions involving 3 million and 2.99 million units of the stablecoin. This substantial movement has led many to believe that Ripple is taking proactive steps to establish RLUSD as a key player in the market.
Ripple’s executive team has consistently expressed optimism about RLUSD’s prospects, emphasizing its potential to revolutionize the financial industry. These recent transactions may be part of their strategy to build a strong foundation for the stablecoin.
It’s worth noting that the large-scale transfers also include a transaction involving 10 million units of RLUSD being distributed in one-million-dollar lots. A significant portion of these funds was directed towards Uphold, an exchange based in Lithuania, which will help strengthen liquidity and solidify RLUSD’s presence in the market.
Meanwhile, Ripple’s native cryptocurrency, XRP, has seen a notable surge, trading near $2.31 after rising 7.8% in the last 24 hours. Some investors are predicting that it could break through this resistance level and reach new highs in the near future.
In related news, it appears that the US government under President Donald Trump is poised to introduce clearer and more supportive regulations for the cryptocurrency market. This development has sparked optimism about the potential growth of the industry and Ripple’s prospects, given its strong presence in the sector.
The recent activity surrounding RLUSD suggests a concerted effort by Ripple to promote its new asset and establish it as a major player in the crypto market. As the company continues to work on strengthening liquidity, investors are keeping a close eye on the developments.
Source: crypto-economy.com
