The circulating supply of Ripple USD (RLUSD), a stablecoin on the Ethereum network, has diminished significantly, now standing at approximately $692 million. This marks a decline from its peak supply of $1.24 billion recorded in February.
Recent statistics gathered from the Ripple Stablecoin Tracker indicated that the supply of RLUSD experienced a notable drop, falling from over $727 million at the beginning of July. The reduction was fueled by extensive token burns, with Ripple actively managing the stablecoin's supply.
Recent Token Burn Activity
In just the past week, Ripple has burned nearly $115.4 million worth of RLUSD on the Ethereum blockchain, while minting approximately $49.3 million during the same period. A significant burn of $25.9 million occurred on July 29 alone, corroborating Ripple's strategy to regulate stablecoin supply effectively.
Broader Trends in RLUSD Supply
Over the last 30 days, the Ethereum blockchain witnessed a total of $369.4 million burned and $167.6 million minted. This ongoing trend highlights a broader pattern of redemptions for RLUSD. Despite the contraction in its Ethereum supply, RLUSD continues to expand on the XRP Ledger, where it has gained a predominant position compared to its Ethereum counterpart.
RLUSD on the XRP Ledger has surged significantly, increasing from about $20 million to approximately $800 million within just over a year. Its market presence has climbed sharply, with RLUSD accounting for 12% of all on-chain trading by 2026.
This is informational content and should not be construed as financial advice.
