Bitcoin Reclaims Near $65K as RLUSD Burns $55.9M and Mastercard Adds Settlement Support

Crypto News

Ripple’s dollar-backed stablecoin RLUSD recorded a $55.9 million burn over the past seven days, far outpacing the $8.8 million minted in the same window, according to on-chain stablecoin tracking data. The activity marks a sharp cooldown from the start of June, when a single day saw $127.4 million minted against just $12 million burned. In the days that followed, redemptions overtook issuance, pulling more circulating supply out of the market than new mints added. May had been notably busier, yet the slower on-chain tempo has not stalled RLUSD’s broader institutional and technical expansion drive across June.

Bitcoin firmed back near $65K on June 14, testing its strongest zone since June 4 as easing geopolitical tension and hopes of a potential US-Iran agreement lifted risk appetite. The recovery follows a brutal stretch earlier this month, when BTC slid from above $73,000 to roughly $59,100 — a near $14,000 drawdown — before buyers defended the $59,000 region. Price then reclaimed $60,000 and consolidated between $61,000 and $64,000 before this push higher. The bounce has steadied a market that had flirted with deeper bear market conditions, restoring some confidence to the largest digital asset.

RLUSD also widened its cross-chain reach in June through Wormhole’s Native Token Transfers framework, allowing the asset to move natively between multiple blockchain networks without creating wrapped versions. The integration is positioned to support cross-border payments, institutional on- and off-ramps, and tokenization use cases. Ripple framed the step as expanding developer and institutional access to compliant, dollar-backed liquidity across supported chains. The design lets RLUSD travel between ecosystems while preserving a single canonical supply, a feature aimed squarely at builders constructing on-chain financial applications who need predictable, redeemable settlement assets rather than fragmented bridged representations.

Payments giant Mastercard moved to support settlement in regulated stablecoins during June, naming RLUSD among the eligible assets alongside the XRP Ledger. Ripple characterized the development as a meaningful signal that institutional interest in digital-asset usage is strengthening, citing rising demand for blockchain infrastructure capable of faster and more flexible settlement. For RLUSD, integration into a global card network’s settlement rails extends the stablecoin well beyond crypto-native venues. The move underscores a wider trend of regulated payment processors treating compliant, fiat-backed tokens as viable rails for institutional money movement rather than speculative instruments confined to exchanges.

Altcoins saw selective strength as Bitcoin stabilized, with Pi Network staging a notable rebound. PI had collapsed below $0.12 last week to mark a fresh all-time low before reclaiming the $0.13 level, reviving hopes of a short-term recovery. Holding $0.13 keeps $0.15 in view as a first target, with $0.18 and then $0.20 needed to confirm a stronger reversal; losing $0.13 would reopen a retest of $0.12. Elsewhere, the token Humanity surged roughly 94% on the day, vaulting into the top 100 assets by market value and highlighting how sharply capital can rotate within the altcoin complex.

RLUSD’s Turkey footprint expanded further over the month, building on integrations tied to BiLira and listings via Bitexen and Bitlo. Ripple additionally announced a partnership with Istanbul Technical University centered on the stablecoin, signaling intent to pair commercial distribution with academic and research engagement in a key emerging market. The combined steps — local exchange access, a domestic stablecoin tie-in, and a university collaboration — point to a deliberate strategy of embedding RLUSD into regional payment and education ecosystems, reinforcing the asset’s push toward broader real-world adoption even as on-chain mint-and-burn activity quieted through June.

Taken together, these developments sketch a market splitting into two tracks: maturing stablecoin and settlement infrastructure on one side, and fragile but reviving risk appetite on the other. COINOTAG’s aggregate market data frames the caution clearly — the Fear & Greed Index sits at 18, deep in Extreme Fear, while Bitcoin dominance has climbed to 70.5% and total crypto market capitalization stands near $1.84 trillion. That elevated dominance, confirmed by our proprietary signals, shows capital still concentrating in Bitcoin even as RLUSD’s Mastercard and Wormhole milestones and the official integration disclosures advance structural adoption beneath a nervous, fear-dominated tape.