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coinpedia 2025-01-04 07:17:46

How Ripple is Using 600,000 RLUSD Coins to Challenge Tether and Circle

How Ripple is Using 600,000 RLUSD Coins to Challenge Tether and Circle

The post How Ripple is Using 600,000 RLUSD Coins to Challenge Tether and Circle appeared first on Coinpedia Fintech News Ripple, the blockchain-based digital payment company, has recently made a splash by creating 600,000 new RLUSD tokens. While this move might seem routine, the cautious approach Ripple is taking has left many wondering: is the company carefully controlling the supply to protect the value of its stablecoin in a competitive market? With rivals like Circle and Tether already dominating the space, Ripple’s next steps could change the game. Maintaining a Balanced Supply Despite the recent increase in token creation, Ripple’s RLUSD stablecoin still holds a market cap of 53.1 million tokens. This suggests Ripple is controlling the overall supply, even as the number of tokens grows. 600,000 #RLUSD minted at RLUSD Treasury. https://t.co/8SGnXoejyx — Ripple Stablecoin Tracker (@RL_Tracker) January 3, 2025 Ripple has also set aside $83 million in reserves, which back more than $77.2 million worth of RLUSD tokens. This means the stablecoin is 7% over-collateralized, showing Ripple’s effort to maintain stability and trust in the token. Ripple is committed to releasing its first attestation report within 30 days of RLUSD’s public launch . The report will outline the assets backing the stablecoin, adding a layer of transparency to Ripple’s operations and strengthening its credibility. Ripple’s Master Plan Despite the increase in tokens, analyst Arthur believes Ripple is carefully managing the supply of RLUSD to prevent a drop in value. If too many tokens are released too quickly, their price could fall. By limiting the supply now, Ripple may be setting the stage for increased demand and adoption in the future. Why is @Ripple limiting RLUSD circulation to 53,1M? Despite hitting the cap on the first days, the supply hasn’t increased. Is Ripple being cautious, or is there a bigger strategy at play? Let’s dive into it. THREAD — Arthur (@XrpArthur) January 2, 2025 Ripple faces tough competition from major players like Circle and Tether. However, its careful approach to managing the supply of RLUSD and its growing presence in the market could help it become a strong competitor in the stablecoin space. Setting a New Standard for Stablecoins Ripple President Monica Long believes RLUSD could redefine the stablecoin market, particularly due to its strong regulatory compliance. By adding RLUSD to the XRP ecosystem , Ripple aims to increase XRP’s usefulness and enhance liquidity for institutional transactions. This move could make the network even more attractive, especially after Ripple’s partial legal victories, which clarified XRP’s classification in certain situations. As Ripple strengthens its position in the stablecoin race, RLUSD could emerge as the model for stability in an otherwise volatile market.

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