Ripple Grabs the Lighter: $29.9M RLUSD Goes Up in Smoke, But Minting Machine Still Running

Ripple's RLUSD treasury apparently decided that money literally burning a hole in their pocket wasn't concerning enough, torching a casual 29.9 million RLUSD in two Ethereum transactions over the past day. It's the kind of fiscal responsibility that would make your accountant weep into their spreadsheets—if they weren't already busy weeping over your 2021 NFT collection.

The pyromania broke down into two distinct bonfires: 20 million RLUSD and 9.9 million RLUSD, respectively. Meanwhile, because burning isn't quite as fun as printing, 18.9 million fresh tokens materialized into existence via two minting transactions, according to Ripple Stablecoin Tracker. The supply shuffle continues, and someone's definitely not balancing their checkbook.

Recent days have been anything but boring for the stablecoin—unless your idea of fun is watching spreadsheets and calling it a lifestyle. April 12 saw 9.99 million RLUSD minted on Ethereum. April 10 was the real rager—23 million RLUSD minted and 8 million burned. Oh, and someone decided to get creative on the XRP Ledger too, because apparently torching tokens on one blockchain wasn't giving them the full degen experience.

In more forward-looking territory, Chainalysis dropped some numbers so big they require a telescope: stablecoin inflation