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Ripple’s Ripple USD (RLUSD) stablecoin has reached a remarkable milestone, surpassing the $527 million valuation mark in just one day. In addition to this significant achievement, the RLUSD treasury quietly minted an astonishing 10 million units of the asset, further boosting its market capitalization.
As reported by CoinMarketCap data, Ripple USD (RLUSD) is gaining traction rapidly. This sudden surge in value can be attributed to a combination of factors including the newly signed GENIUS Act. The law’s regulatory framework for dollar-backed stablecoins aims to strengthen the U.S.’s role in the evolving global cryptocurrency landscape.
The quiet minting of 10 million RLUSD units suggests that Ripple is preparing for significant growth and adoption of its stablecoin, which would ultimately benefit the entire crypto market.
Source: u.today
