Ripple’s RLUSD Burn Party: What’s the Deal? 🎉🔥

by

So, Ripple’s been on a burning spree, huh? 🔥 Like, they’re torching RLUSD left and right-2.7 million in one go, according to some guy named @RL_Tracker. Big whoop. Who has time to track this stuff? Oh, right, that’s his job. 🤷‍♂️

Ripple’s Pyromaniac Phase

Crypto burns, am I right? 🤑 Stablecoins, unstable minds. Apparently, Ripple’s been playing with matches, burning millions of RLUSD in the past few weeks. Why? Who knows. Maybe they’re just really into bonfires. 🌭🔥

Here’s the kicker: they burned 2,714,248 RLUSD in one transaction. Etherscan says it’s gone-poof, into the void. 💨 But wait, there’s more! They did two 1M burns in September and another in August. Six million RLUSD up in smoke. What’s the endgame here? A tax write-off? 🧐

Oh, and get this-they’re minting new tokens too. 312,000 RLUSD in 24 hours. So, it’s like they’re playing whack-a-mole with their own supply. Burn, mint, burn, mint. Someone give them a hobby. 🎨🤦‍♂️

What’s the Point of This Circus?

Apparently, this is Ripple’s “supply management cycle.” 🌀 Tokens in, tokens out. Market demand, redemptions-blah blah blah. RLUSD is pegged 1:1 to the dollar, so they’re just juggling numbers. 🪙🤹‍♂️

Stablecoins, am I right? Tether does it, Ripple does it. But here’s the twist: they’re not burning to pump the price. Nope, just housekeeping. 🧹 Meanwhile, Shiba Inu’s over there burning for scarcity. Ripple’s like, “Nah, we just like fire.” 🔥🤷‍♂️

So, RLUSD’s supply is 728.7 million, market cap’s $728 million, and it’s still holding that $1 peg. Yawn. 🥱 But hey, at least they’re keeping @RL_Tracker busy. Someone’s gotta watch the world burn, right? 🌍🔥

Read More

2025-09-12 01:28