Ripple has resumed RLUSD token minting, issuing 19 million new tokens after a 49-day freeze. This move represents the first issuance since April 25 and has elicited varying market reactions.
Resumption of RLUSD Minting
Ripple minted 19 million RLUSD tokens over two days, with 12 million issued on June 13 and 7 million on June 14. This issuance marks the company’s first activity after a significant pause.
Market Response Remains Tepid
Despite the renewal in minting tokens, RLUSD trading volume fell by 68.96% to just $62.26 million. Meanwhile, the overall crypto trading volume declined by 40.64% amid global economic uncertainty. Analysts attribute these figures to adverse macroeconomic conditions and geopolitical tensions.
Strategic Positioning of Ripple
The resumption of token minting coincides with several positive developments for Ripple’s stablecoin initiative. The company recently secured regulatory approval in Dubai and listed RLUSD on a major cryptocurrency exchange. These milestones suggest Ripple's confidence in the long-term prospects of its initiative.
The resumption of RLUSD token minting after nearly a seven-week pause indicates Ripple’s strategic approach to potential demand growth despite current weak market conditions.
