🔥🔥🔥 #Ripple💰 Starts Burning RLUSD Hard – 2 Million #Stablecoins Scorched in One Go

Ripple Ignites XRP Community with Massive #RLUSD Burn🔥

- Ripple has sparked excitement within the XRP community after conducting a major burn of RLUSD tokens on Wednesday. This marks the first significant token burn following the company's recent minting of 42 million stablecoins.

- The burn is part of Ripple's ongoing private beta for RLUSD, which began in August. In this latest move, two million Ripple-issued stablecoins were locked in an unspendable blockchain wallet. The XRP community quickly responded, flooding social media with enthusiasm & urging Ripple to continue testing its new stablecoin asset.

Ripple Burns 2 Million Stablecoins

- According to the Ripple Stablecoin Tracker on the X platform, a significant 2,000,000 RLUSD tokens were burned at the RLUSD Treasury within the last 24 hours. Earlier this week, the Treasury burned smaller amounts, totaling less than half a million RLUSD in four separate burns. This follows Ripple’s issuance of 42 million RLUSD in multiple batches, with the largest batch comprising 10 million tokens.

- Ripple has warned the #XRPcommunity about scammers falsely claiming RLUSD is publicly available, trying to trick users into purchases or wallet links. The company clarified that RLUSD is still in private beta.

193 Million XRP in Motion

- Meanwhile, blockchain tracker Whale Alert has reported significant XRP transfers over the past 48 hours, with nearly 193 million XRP moved across several large transactions. Among the notable transfers were 21,160,000 XRP & 19,070,000 XRP sent to centralized exchanges Bitso & Bitstamp, valued at $11,052,822 and $10,107,880, respectively.

- A massive transfer of 100,000,000 XRP, worth $53,057,020, occurred between two anonymous wallets, followed by another withdrawal of 52,000,000 XRP valued at $27,373,243 from the Bybit exchange. These significant transactions, likely driven by whale activity, come as XRP trades sideways around the $0.52 mark since October 3.

Source - u.today