Ripple's RLUSD Shrinkflation: 10M BURNED After Yesterday's 79M Minting Spree

Looks like Ripple is playing a spirited game of Jenga with its own stablecoin—building up, then yanking pieces out before the whole tower collapses. The RL_Tracker account on X reports that Ripple just sent 9,890,000 RLUSD to meet its maker by locking it in an unspendable wallet on Ethereum—one of the two networks where RLUSD lives and definitely not moonbeam-adjacent. The XRP Ledger is the other homestead for this stablecoin, because why put all your eggs in one blockchain basket when you can spread the chaos across two?

But here's where it gets spicy: just one day prior, Ripple minted a whopping 79,000,000 RLUSD on the XRP Ledger faster than you can say "utility." Then, within 24 hours, they yanked 49,084,862 RLUSD out of circulation like a parent grabbing the car keys after catching you flooring it. So the ledger reads like a chaotic crypto DJ set: mint, burn, mint, burn. We don't question the strategy—we just report it and maybe quietly judge it.

Meanwhile, RLUSD has officially touched down on Coinone, one of South Korea's larger exchanges, now trading against the Korean Won. Kimchi premium enthusiasts, your moment has arrived—or at least your adjacent moment, since we're not quite at the over-the-top premium levels of 2017 yet.

Over on Binance, CEO Richard Teng dropped some actual food for thought at a conference—the kind that doesn't give you food poisoning like most crypto promises: the total stablecoin supply sitting out there is approximately $316 billion. He outlined three key drivers pushing that number higher