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According to $RLUSD Tracker, on March 8, 9.1 million $RLUSD were permanently removed from circulation, likely as part of a reserve rebalancing effort. However, already today, March 9, Ripple Treasury minted a new batch totaling 1,965 $RLUSD.
According to the latest Top USD Stablecoin Tokens ranking, Ripple’s stablecoin currently holds eighth place among the largest dollar-backed stablecoins, with a market capitalization of $1.58 billion. In the global crypto ranking, such capitalization places it in 45th place. At the same time, $RLUSD’s trading volume over the past 24 hours stands at just under $100 million.
Why Ripple burns before it mints
The main point of interest here is not the numbers themselves, of course, but how exactly Ripple manages the supply. If Tether prints billions of USDT and they simply sit on the market, Ripple demonstrates something closer to surgical precision, which resembles the work of a central bank rather than that of a crypto project.
A burn of 9.1 million followed almost immediately by minting close to one million. These are not chaotic actions, but rather, a continuation of the liquidity-on-demand model that Ripple already uses with XRP. This approach prevents tokens from sitting idle in wallets. Every time $RLUSD is minted, it effectively means a specific large fund or exchange has pressed the buy button. In other words, this is a stablecoin with almost zero idle supply.
Ripple is required to verify every cent under the strict regulatory environment of 2026 following the adoption of the Genius Act in the United States. By burning nine million tokens, the company demonstrates to auditors that there is not a single excess or unbacked cent.
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