Ripple founder, in action again! He has moved a huge amount of XRP from his wallet known as Tacostand in the last 15 days!
Ripple founder is emptying his wallet!
Ripple’s first CTO, Jed McCaleb, continues to empty his XRP wallet. After the most recent sale, he has about 502 million XRP left in his wallet.
JedMcCaleb has sold millions of XRP again!
XRPscan has found that Jed McCaleb, one of the founders of Ripple Labs and the first CTO of the company, has removed 259 million XRP from his wallet in the last two weeks to launch.
XRPscan.
McCaleb’s wallet is emptying!
Jed McCaleb, who has received almost twice as much XRP from Ripple as the previous payment, has released a huge amount in the last fourteen days. XRP lasted.
According to data from XRPscan, Jed McCaleb has withdrawn approximately 259 million XRP tokens for cash out of his wallet known as tacostand in the past two weeks.
That is; Ripple’s first CTO received 442 million XRP from Ripple Labs on May 1. According to XRPscan, in approximately the last two weeks, it has processed fifteen transactions that have moved 259 million XRP coins.. So, Jed McCaleb took action to cash out 259 million XRP.
The famous founder moved his XRPs in chunks of 17.3 million (seven transactions), 18.5 million (six transactions), and 13.4 million (only two so far this week).
McCaleb sells a certain amount of XRP every day from his shrinking wallet. From April 25 to May 1, it was selling 18,558,414 XRP on a daily basis.
Previously, the daily sales amount was 22,598,696 XRP tokens.. McCaleb sold 17,301,056 XRP per day from May 2 to May 8.
On May 1, McCaleb received 442,127 from Ripple as part of his compensation for his role as the first CTO. Received .865 XRP.
Starting from May 9, it started to issue 13,398,341 XRP daily. It has made three transactions so far, reducing its daily sales.
Meanwhile, the total amount of XRP sold since April 25 is $372,119,701 in USD equivalent.
However, Ripple The co-founder’s wallet still has 502,127,869 million XRP still waiting to be sold. That equates to $732,937,169.
A popular blockchain and crypto analyst Leonidas Hadjiloizou predicts McCaleb will empty his wallet completely by the end of August.
Why is Jed McCaleb selling XRP?
Before McCaleb founded Stellar, he was on the founding team of Ripple (then Opencoin) until 2013. In 2014, he parted ways with Ripple to develop Stellar. Later, due to his role in founding the company, a portion of the XRP supply was allocated to him.. He could sell, hod, or donate these tokens without prior permission, but not all at once.
When McCaleb chose to sell; In order that these sales do not affect the XRP price, he reached a 7-year agreement with the company that limits XRP sales.
These big sales by McCaleb generally do not affect the price of XRP. Because, according to this deal made in 2016, McCaleb sells 1% of the average daily trading volume of XRP.. Also, as part of this deal, Ripple is paying him piecemeal to prevent McCaleb from selling huge amounts of XRP at once.
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