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Ripple’s RLUSD Contingent Is Moved from Ethereum to the XRP Ledger
In a significant development, Ripple has shifted 20 million RLUSD units from the Ethereum network to its native XRP Ledger (XRPL). This strategic move has far-reaching implications for the cryptocurrency market and showcases Ripple’s continued commitment to optimizing its operations.
According to Vet, a blockchain analyst, Ripple executed two synchronized transactions on August 11. First, 20 million RLUSD were permanently removed from circulation through a burn transaction on Ethereum, as verified by Etherscan records. Shortly thereafter, an identical amount was minted on the XRP Ledger, per XRPSCAN data.
This bold move marks one of the largest single supply adjustments since RLUSD’s inception in December 2024. It is crucial to note that Ripple maintains full control over minting and burning RLUSD units on both blockchains, enabling the company to dynamically manage the circulating supply across networks.
The decision to relocate a substantial portion of RLUSD from Ethereum to XRPL has sparked considerable interest among market observers. Some have speculated about the potential for this action to boost liquidity and enhance the efficiency of Ripple-powered payment solutions within the XRP Ledger ecosystem.
While an official statement from Ripple has not been released, it is clear that this shift in supply has significant implications for both XRPL-based projects and RLUSD holders. As Ripple’s RLUSD contingent has relocated to its native ledger, investors should be aware that their holdings are now exclusively tied to the XRP network. This reallocation may have a bearing on market dynamics and could potentially impact RLUSD trading volumes.
This development underscores the ever-evolving landscape of cryptocurrency and the importance of staying informed about critical changes within the space.
Source: timestabloid.com
