110 wallets dominate 99.6% of RLUSD payments on XRP Ledger, analytics firm finds

Just 110 wallets generated 99.6% of RLUSD payments on the XRP Ledger over 30 days, executing approximately 7.79 million transactions transferring only $7,722 worth of Ripple's stablecoin. The automated wallets, funded through Binance-labeled addresses, funneled funds to three collector addresses. The activity accounted for nearly all 7.82 million RLUSD payments recorded, raising questions about whether the transaction count reflects genuine adoption. High-value activity beneath the automated transfers shows approximately 14,600 payments worth at least $1 moved $7.33 billion, with 10 wallets accounting for $6.05 billion, or 82% of the total.