- Ripple minted 19 million RLUSD over two days, marking a return to activity after a 49-day pause in token issuance.
- Trading volume for RLUSD fell by nearly 69 percent, reflecting a broader 40 percent decline in crypto trading volume.
- Ripple’s Treasury may be preparing for a market rebound by ensuring supply is in place during the current downturn.
Ripple’s stablecoin minting operations have restarted after nearly seven weeks of inactivity. A total of 19 million RLUSD were issued over two days by Ripple’s Treasury. The first batch of 12 million RLUSD was minted on June 13, followed by an additional 7 million RLUSD on June 14. These are the first new tokens since April 25, marking 49 days of no activity in minting.
The timing of the minting is notable, considering the current state of the crypto market. RLUSD’s trading volume has declined sharply, dropping by 68.96% to $62.26 million. This reflects a broader dip in trading activity across the crypto space, influenced by ongoing global financial uncertainties. Within the same period, the entire crypto market has seen a 40.64% decline in trading volume.
Strategic Supply Ahead of Recovery
Although demand for RLUSD appears low at the moment, the timing of the minting suggests that Ripple may be positioning for a market rebound. By increasing supply now, the Treasury could be preparing for an uptick in demand once macroeconomic conditions stabilize. The newly minted tokens are deployed on the Ethereum network, supporting broader interoperability and readiness for market movement.
Ripple’s stablecoin operations have also seen recent regulatory and listing progress. RLUSD received key approval in Dubai earlier this month and achieved listing on a major exchange with a trading volume of $7.11 billion. These developments are likely part of Ripple’s broader strategy to expand RLUSD’s market presence despite current volume declines.
RLUSD Stability Plays a Key Role
Stablecoins like RLUSD often see heightened demand during volatile market phases. However, the recent trend shows reduced interest, possibly due to investors holding off during the correction. Ripple’s decision to mint during this slowdown may ensure that liquidity is readily available once market sentiment shifts.
