Printer Go Brrr: Ripple Mints Another 2M RLUSD on Ethereum

Ripple just cranked the printing press to eleven.

On Thursday, April 9, the San Francisco-based blockchain outfit fired up the minting machine and popped out another 2,000,000 $RLUSD on Ethereum. That's roughly $2 million in fresh stablecoins conjured into existence — because apparently, recreating the Federal Reserve's worst habits never goes out of style.

The transaction set Ripple back a glorious 0.0000195 ETH in gas fees. That's like spending three dollars to print two million dollars. Efficient, if you don't think about it too hard.

According to the Ripple Stablecoin Tracker, these freshly minted tokens emerged from a null address before being shuffled off to destination wallet 0xFbcA8B5f…0Db600BB6. It's basically Ripple's standard choreography for introducing new coins into the wild before spreading them across supported chains — a little token ballet, if you will.

Since $RLUSD launched roughly a year ago, Ripple has kept up a steady beat of removing and adding supply across both the XRP Ledger and Ethereum. It's a supply-side salsa that's left many onlookers doing the math and then doing a double-take.

Market watchers have speculated these moves are all part of Ripple's grand plan to manage liquidity while pushing enterprise adoption of its stablecoin. Corporate translation: "We need more coins floating around for when the DeFi gods smile upon us."

Or maybe Ripple's just making sure its stablecoin is ready for broader deployment across trading desks and payment rails as partnerships keep multiplying like rabbits.

Either way, the minting machine hums along, indifferent to our opinions.