Ripple has resumed the minting of Ripple USD (RLUSD) stablecoins after over a two-week hiatus, with a significant issuance of 9.1 million coins in one day.
New RLUSD Minting
According to the Ripple Stablecoin Tracker account, Ripple has resumed the minting of RLUSD stablecoins, producing three large batches within the last 24 hours.
Minting Details
Ripple issued three batches of stablecoins: 3.1 million RLUSD, 4 million RLUSD, and 2 million RLUSD. Notably, part of the minting took place on the Ethereum blockchain. The company previously issued 625,000 RLUSD on February 10, followed by a 17-day break.
XRP Network Activity Decline
Recent data shows a significant decline in XRP network activity by 50% over the past three months. This coincides with a drop in demand for payments and remittances on the XRP network.
The resumption of RLUSD stablecoin minting signals a return of Ripple's activity. However, the decline in XRP network activity may point to current challenges faced by the company.
