Ripples RLUSD stablecoin has experienced a sharp decline in circulating supply after major token burns on the XRP Ledger (XRPL), coinciding with the emergence of Open USD (OUSD), a new consortium-backed stablecoin that is drawing significant attention across the cryptocurrency industry. Blockchain data shows that approximately 146 million RLUSD tokens were burned within a matter of hours on Tuesday, reducing the stablecoins market capitalization to around $1.4 billion, according to CoinGecko. The reduction marks a notable decline from RLUSDs peak valuation of nearly $1.9 billion. The token… Read more
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