By Jove, what a to-do! The @RL_Tracker chappie on the X platform-a fellow who keeps tabs on the comings and goings of the RLUSD stablecoin-has let slip that, not an hour since, the San Francisco-based blockchain behemoth, Ripple, has gone and torched nearly ten million of the blasted things. A regular bonfire of the vanities, what?
9.8 Million RLUSD Go Poof! Into the Ether They Vanish!
Ripple, in a move that would make even the most seasoned financier raise an eyebrow, has consigned 9,890,000 RLUSD to the digital dustbin by locking them in an unspendable wallet. The deed was done on the Ethereum chain, one of the two networks where Ripple has unleashed this stablecoin. The other, of course, being the XRP Ledger. A bit of a tidy-up, eh what?
🔥🔥🔥🔥🔥🔥 9,890,000 #RLUSD burned at RLUSD Treasury.
– Ripple Stablecoin Tracker (@RL_Tracker) April 1, 2026
Now, before this pyrotechnic display, our vigilant friend @RL_Tracker spotted a bit of a kerfuffle with several whopping transactions. One day prior, Ripple minted a staggering 79,000,000 RLUSD on the XRP Ledger. But, in a twist that would make a novelist proud, nearly half of this sum-49,084,862 RLUSD, to be precise-was promptly removed from circulation. Talk about a rollercoaster, what?
🔥🔥🔥🔥🔥🔥🔥 79,000,000 #RLUSD burned at RLUSD Treasury.
– Ripple Stablecoin Tracker (@RL_Tracker) March 31, 2026
In other tidings, Ripple has announced that RLUSD has gone live on Coinone, one of the largest crypto exchanges in South Korea. It’ll be trading against the Korean Won (KRW). A bit of international flair, eh?
Binance Bigwig Weighs In on $316 Billion Stablecoin Bonanza
In a recent X post, the top dog at Binance, Richard Teng, let slip that the circulating supply of stablecoins has hit a cool $316 billion. By Jove, that’s a pretty penny! Teng, ever the analyst, pinpointed three drivers behind this growth: “real yield opportunities,” “payments infrastructure,” and “institutional adoption post-GENIUS Act.” A regular trifecta of financial wizardry, what?
A number worth paying attention to: ~$316B.
That’s the current stablecoin supply, and it’s growing on its own fundamentals, not just crypto sentiment.
What’s driving it:
→ Real yield opportunities
→ Payments infrastructure
→ Institutional adoption post-GENIUS ActMore from…
– Richard Teng (@_RichardTeng) April 1, 2026
The GENIUS Act, signed into law last summer, introduced the first federal stablecoin network, with each stablecoin backed 1:1 by dollar reserves. However, it’s a bit of a damp squib for holders, as it assumes no direct yield payouts. Meanwhile, the Clarity Act is being bandied about by lawmakers, with banks sticking their oars in. Seems the stablecoin yield model is giving the banking system a run for its money, offering better yields and posing a bit of a threat to the old guard. And let’s not forget DeFi, the new kid on the block, with its high intermediary and transaction fees.
Stablecoins are being minted left, right, and center-Ethereum being the main stage, but USDT and USDC are popping up on a dozen other blockchains. Even Tron and Cardano are getting in on the act, not to mention Ripple. A regular free-for-all, what?
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2026-04-01 18:03