XRPScan Data Shows 13 Million XRP Have Been Incinerated Since Inception, Underscoring the Protocol's Development

According to data from XRPScan, 13,014,042.56 XRP have been incinerated since inception. While this figure might be small relative to the

XRPScan data shows 13,014,042.56 XRP have been incinerated since XRP Ledger’s launch.

Despite the relatively small amount incinerated compared to the circulating XRP supply, the development highlights the protocol's design and future positioning.

According to XRPScan, the protocol has closed 92,036,034 ledgers with precisely 203,630 payments. XRP Ledger has managed to up its appeal in several ways over the past year, which includes its subsequent mainnet amendments and upgrades.

Ripple Targets Stablecoin Market

One product the XRP community is eagerly awaiting is Ripple Labs’ stablecoin, RLUSD. Notably, Ripple aims to penetrate the stablecoin market, which is currently dominated by Tether’s USDT and Circle’s USDC.

The test features minting, burning, and transfers, which are crucial for a stablecoin's efficient operation. XRP Ledger has proven to have the necessary conditions that will propel the stablecoin's growth and enable it to give a good fight to its competitors.

Analyst Outlines Key Events

A popular crypto community figure outlines key events that could strengthen Ripple and XRP’s position in the financial sector. He believes that Trump's victory at the White House could influence some of these potential events.

Here's what I believe will happen with @Ripple and #XRP over the next 3-9 months:

1) Stablecoin Regulations: Expect stablecoin regulations to take shape, enabling #Ripple to launch its stablecoin, #RLUSD, commercially.

Thomas believes the US government will establish clear regulations for stablecoins under Trump, which will allow Ripple to launch its highly anticipated stablecoin, RLUSD. Although Ripple has partnered with some top exchanges to distribute RLUSD, the project is still awaiting regulatory approval.

He speculates that top asset management firms will soon submit applications for spot XRP ETFs, which he compares to BlackRock's Bitcoin ETFs that have attracted massive institutional interest.

Notably, asset managers like Bitwise, Canary Capital, and 21Shares have already submitted proposals for XRP ETFs. Additionally, Grayscale has applied for regulatory approval to convert its multi-asset trust, which includes XRP, into an ETF.

The above is the detailed content of XRPScan Data Shows 13 Million XRP Have Been Incinerated Since Inception, Underscoring the Protocol's Development. For more information, please follow other related articles on the PHP Chinese website!