Ripple USD (RLUSD) has recorded a significant liquidity surge over the past seven days, with a net inflow exceeding $275 million on the XRP Ledger. According to Hussein Zangana, XRP Ledger Foundation Director of Community and dual validator known as Vet on X, the period saw heavy minting and redeeming activity. $354.4 million in RLUSD was minted, while $78.7 million was burned, resulting in the large net inflow.
Detailed on-chain data reveals multiple large transactions: on May 20, 20,000,000 RLUSD were burned at the RLUSD Treasury; on May 21, 15,000,000 RLUSD were burned alongside 10,036,746 minted; and on May 22, 10,095,600 RLUSD were minted. Additional transactions included 230,000,000 RLUSD minted on the XRP Ledger and 10,000,000 RLUSD burned. The activity underscores growing usage of the stablecoin.
Binance, which listed RLUSD in January, played a notable role by handling RLUSD transactions and offering spot trading, portfolio margin eligibility, and Binance Earn support. Vet also highlighted potential upcoming activity, stating, “Good chances we see next week Gemini with end of month mint/redemptions.” RLUSD’s market capitalization has now surpassed $1.7 billion, supported by expanding use cases in payments and DeFi.
