An unknown address recently set a trust line to the tune of 25 billion Palau stablecoin (PSC) on the XRP Ledger, but this does not necessarily represent a movement of funds. The XRP community recently witnessed the initiation of a trust line transaction amounting to 25 billion Palau stablecoin on the XRP Ledger (XRPL). The […] The post XRP Ledger Sees $25 Billion Single Palau Stablecoin Trust Line Transaction first appeared on The Crypto Basic.

XRP Ledger Sees $25 Billion Single Palau Stablecoin Trust Line Transaction

An unknown address recently set a trust line to the tune of 25 billion Palau stablecoin (PSC) on the XRP Ledger, but this does not necessarily represent a movement of funds.

The XRP community recently witnessed the initiation of a trust line transaction amounting to 25 billion Palau stablecoin on the XRP Ledger (XRPL). The recent development has triggered varied responses from community members as proponents ponder its implications for the broader XRP ecosystem.

Notably, the  transaction , which occurred on July 27 at 3:41 (UTC), involved exactly 24.993 billion Palau stablecoin (PSC). Given that the Palau stablecoin is pegged at a 1:1 ratio to the dollar, the amount transacted equally translates to $24.993 billion.

In a tweet yesterday, the official Twitter account of the financial blog WallStreetBulls first drew the public’s attention to the development.

Nature of the Transaction

The transaction has elicited excitement among some XRP community members, with a few proponents calling attention to its potential significance. However, it is essential to note that the transaction did not involve the movement of funds. This is due to the nature of trust line transactions on  the XRP Ledger .

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