Ripple is strictly regulated $RLUSD Stablecoins have experienced significant market capitalization declines.
Earlier today, the company burned over 180 million tokens in just a few hours. This is the largest single-day decline in supply in the history of the red-hot stablecoin, which has become a darling of traditional financial players.
Market capitalization falls by $340 million
According to a recent Deloitte audit, $RLUSD The circulating supply in late February was approximately $1.56 billion.
However, the token’s market capitalization has plummeted in recent weeks, according to data from CoinGecko. The current circulating supply of tokens is 1.28 billion tokens.
$RLUSD‘s market capitalization has fallen $340 million from its peak in late February.
“Burning” is not necessarily a negative event, as it is a standard operating mechanism. For example, Ripple was once on fire $RLUSD Issue tokens on the Ethereum blockchain, $XRP ledger.
In this case, the Gemini exchange executed a large redemption at the end of the first quarter. They cashed out hundreds of millions of dollars worth of liquidity that they used to mint. $RLUSD Along with Ripple.
Gemini just redeemed (via Burning) 128,000,000 $RLUSD in $XRP Ledger with ripple.
This means that they requested the return of the liquidity they used to mint $RLUSD With ripple, by burning $RLUSD. pic.twitter.com/NEaqSHAaH0
— Veterinarian (@Vet_X0) March 31, 2026
Stablecoin rankings fall
Due to the recent burn incident, Ripple $RLUSD Currently, it is lower than Binance’s BFUSD in the stablecoin rankings.
ripple’s $RLUSD It still has a few miles to go before it catches up with PayPal’s PYUSD, another highly regulated stablecoin player. The latter has a market capitalization of more than $3.9 billion.
Of course, Tether (USDT) remains rock solid with its $184 billion market cap. The stablecoin giant recently announced that it has hired a “big four” auditor.
