The #XRP Ledger has recorded its largest RLUSD burn since the stablecoin launched, after a single transaction incinerated 12 million units of the Ripple stablecoin.
The Ripple Stablecoin Tracker, a community-driven account dedicated to tracking minting, redemption, and transfer activities involving Ripple USD (RLUSD), flagged the transaction on April 23. In an X post, it identified the incineration of 12 million RLUSD late Tuesday at the RLUSD Treasury and the minting of the exact amount less than a minute later.
Here’s What Happened
Data from XRPScan shows that at exactly 11:05 (UTC) yesterday, the address in question burned 12 million RLUSD on the XRP Ledger. For context, this transaction typically involves permanently removing the portion of the stablecoin from existence for several purposes, including reducing excess supply and maintaining its 1:1 peg with the US dollar whenever users redeem RLUSD for fiat USD or other tokens.
Interestingly, this is the largest singular RLUSD burn on the XRPL Ledger since the stablecoin launched in December. The last time a hefty RLUSD burn occurred on the blockchain was when Ripple burned 46.7 million RLUSD tokens in a single day in preparation for the stablecoin’s market debut.
Meanwhile, a few seconds later, the RLUSD Treasury replenished the recently incinerated 12 million RLUSD on the Ethereum network. Etherscan shows that 12 million tokens were transferred from a null wallet to a multisignature wallet, “0xFbcA,” created by the Ripple Deployer.
RLUSD Transaction’s Significance
Remarkably, the Tuesday transaction signaled a cross-chain liquidity transfer from the XRP Ledger to the Ethereum network. XRPL dUNL validator Vet confirmed the transaction’s purpose in a tweet today.
He noted that the customer who requested the burning and minting of the 12 million RLUSD was moving the stablecoin from one chain to another. This reduces the amount of RLUSD on the XRP Ledger and increases the supply on the Ethereum network,
bridging liquidity between blockchains......
#Crypto
As of April 23, 2025, the cryptocurrency market is experiencing a significant upswing, with major assets like Bitcoin and Ethereum showing strong bullish momentum.
$BTC
📈 Market Overview
Bitcoin (BTC): Currently trading at approximately $93,998, Bitcoin has surged past key resistance levels, indicating a robust upward trend. The Crypto Basic
Ethereum (ETH): Ethereum is trading around $1,789, marking a significant recovery and outperforming Bitcoin in percentage gains over the past 24 hours. FXStreet
Total Market Cap: The global cryptocurrency market capitalization has risen to $3.04 trillion, reflecting a 4.91% increase in the last 24 hours. CoinGecko
🔍 Key Drivers Behind the Surge
Institutional Investments: Major financial institutions are increasing their exposure to cryptocurrencies, signaling growing confidence in digital assets.
Macroeconomic Factors: Recent comments on U.S. tariffs have boosted market sentiment, leading to increased investor interest in cryptocurrencies. Crypto News Australia
Technical Breakouts: Bitcoin has broken through significant resistance levels, suggesting the potential for further gains.
📊 Technical Analysis
Bitcoin: Analysts are eyeing the next resistance level at $95,000, with potential to reach $106,000 if current momentum continues.
Ethereum: Ethereum's market dominance is recovering, and technical indicators suggest a continued upward trajectory. FXStreet
📌 Conclusion
Given the current market dynamics, the trend appears to be bullish. However, it's essential to stay informed and exercise caution, as the cryptocurrency market is known for its volatility.
Altcoin Bull Run?
#MarketRebound
With Bitcoin's recent surge over the past two days, approaching the $95,000 mark, the question arises: Are we finally seeing the long-awaited moves in altcoins?
The key indicator here will be the performance of Ethereum and other major coins.
As long as these coins continue to rise, we could see more aggressive movements in the altcoin market.
For ETH, reclaiming the $2,000 level in the short term will be crucial for confirming a continued uptrend. On the downside, the $1,500 level stands as a support zone.
What are your thoughts?
Bybit CEO BEN introduced the AI applications in Bybit: CryptoLens provides AI in-depth analysis of projects, TradeGPT conducts technical analysis, and there is AI customer service support, but manual customer service is still retained to deal with emotional needs. In internal operations, AI is used for testing (AITest), translation (AITranslation), internal training (AiWiki), project management (OSOP), legal document drafting (AiLegal), and is explored for basic programming (Aicoding), comprehensively improving the efficiency of each link.
DWF Labs unveils a partnership with Mask Network
#DWFLabs partners with #MaskNetwork , a portal that enables encrypted messages, crypto transfers, and dapps directly on popular social platforms with no migration needed, to catalyse a more open internet, one where users control their data, creators are fairly rewarded, and value flows freely across trustless systems. As part of the partnership, DWF Labs has purchased $5M in $MASK tokens.
👉 dwf-labs.com/news/545-dwf-labs-partners-with-mask-network-to-accelerate-the-future-of-decentralized-social-infrastructure
Massive congrats to everyone who caught that $TURBO move — doubling in 24H is no joke! From early signs of strength to blowing past short-term resistance, this play delivered clean breakout momentum.
Now hovering around $0.0042, with $0.0045 in sight. That zone will be key — break it with conviction and we could be looking at a fresh leg up.
Momentum's hot, sentiment’s flipping bullish fast, and volume is confirming the move.
If you’re not in yet, don’t chase blindly — wait for clean retests or breakout confirmation.
Anyone else riding $TURBO or watching for the next setup?
#TURBO
Market Overview
Сrypto market rebounded as Trump signaled easing tensions with China. $BTC has risen above $93K, while $ETH gained 13% and is trading around $1800.
Top gainers over the past 24h include $IMX, $SUI , $SPX, and #VIRTUAL, each adding around 30% to their prices.
Market Cap: $3.06T
24h Liquidation: $624.2M
Fear & Greed Index: 72 (Greed)
👉 Latest News
- Trump Media partners with @cryptocom to develop 'Made in America' ETFs
- @Ripple launches $RLUSD stablecoin on Aave, expanding its DeFi presence
- @Chiliz meets with SEC crypto task force amid US market reentry plans
👉 Small Cap Gainers
$troll +249%
@Nuls $NULS +211%
@0xzerebro #ZEREBRO +174%
@darkresearchai $DARK +141%
@NeiroOnEthereum $NEIRO +100%
$SUI ecosystem completely overtaking the market.
These dips where a Gift!
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