110 wallets generated 99.6% of RLUSD payments on XRP Ledger, Bitquery reports

An analysis of RLUSD stablecoin transactions on the XRP Ledger revealed that an overwhelming majority of payment activity over a 30-day period originated from just 110 wallets, raising fresh questions about the underlying nature of RLUSD network adoption. Research by blockchain analytics firm Bitquery found that between September 19 and October 18, these 110 wallets generated approximately 7.79 million RLUSD payments. This figure accounts for 99.6% of the 7.82 million RLUSD transactions recorded during the period. Despite the high transaction count, the group of wallets transferred only 7,722 RLUSD in total. On average, each payment equaled just 0.00099 RLUSD, worth about one-tenth of a cent. Bitquery analysts reported that these wallets repeatedly sent very small RLUSD amounts to three specific recipient addresses, with transactions occurring roughly every 30 seconds.

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