Ripple Printer Hardly Mints RLUSD This Week While Trading Volume Up 35.66%

After the successful launch of the dollar-pegged $RLUSD stablecoin at the start of December, Ripple has been regularly minting millions or at least hundreds of thousands of $RLUSD pretty regularly.

This week, however, on-chain data trackers have not registered any significant minting activity of Ripple Treasury — the entity in charge of creating new $RLUSD coins under Ripple.

Meanwhile, traders have been actively using the 50 million $RLUSD that are circulating in the market now — the trading volume is 35.66% up over the past 24 hours, according to data shared by CoinMarketCap. The stablecoin currently holds the 552 spot in terms of market capitalization size.

Ripple mints hardly any $RLUSD this week

Data published by the Ripple Stablecoin Tracker account on the X social media platform shows that the last time a large amount of $RLUSD was minted took place Feb. 10, and those were chunks of 625,000 and 425,000 $RLUSD, which totals 1,050,000 $RLUSD.

Before that was a two-day break, when 7,100,000 and 2,000,000 $RLUSD were created on Feb. 8.

As of today, Feb. 15, XRPscan shows that the blockchain address called “$RLUSD (Issuer)” has been minting just small amounts of $RLUSD containing several thousand coins maximum.

So far, according to CoinMarketCap, there are 53.1 million $RLUSD in circulation at the moment. It is likely that Ripple so far considers the already issued amount of stablecoins sufficient for now and will generate more $RLUSD depending on the future market demand.

$163,660,947 in $XRP on move as $XRP spikes 11%

Popular crypto transaction tracker Whale Alert, which frequently informs the community of large cryptocurrency transfers and provides the details of them on its website and the X account, has reported that earlier today, whales transferred an impressive amount of $XRP.

According to the tweet, roughly 18 hours ago, one anonymous wallet transferred 60,045,505 $XRP to another unknown blockchain address, which is equivalent to $163,660,947 in fiat currency.

On Friday, $XRP skyrocketed by almost 11% and hit the $2.82 level after the SEC acknowledged the $XRP ETF application. Today, however, the third-largest cryptocurrency faced a marginal decline of 1.4% and is changing hands at $2.78.