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Former Ripple’s Jed McCaleb Dumps 259 Million XRP, 502 Million Still in His Wallet

Altcoins

u.today 11 May 2021 11:30, UTC
  
Reading time: ~2 m

First CTO of Ripple and the person who founded the company together with Chris Larsen back in 2012, has sold a whopping 259 million XRP tokens in the past two weeks, data from XRPscan shows.

He also received 442 million XRP from Ripple Labs on May 1.

McCaleb to sell 13.4 million XRP per day this week

As per XRPscan, approximately in the last two weeks, former CTO of Ripple Labs made fifteen transactions, moving 259 million XRP coins from his digital wallet called “tacostand”.

He has been moving XRP in 17.3 million batches (seven transactions), 18.5 million (six transactions) and 13.4 million (just two so far this week).

Every week, McCaleb sells XRP from his shrinking stash, dumping a certain amount of XRP each day. From April 25 until May 1, he was selling 18,558,414 XRP per day.

Prior to that, the daily amount was 22,598,696 XRP tokens. Since May 2 until May 8, McCaleb sold 17,301,056 XRP per day.

Starting on May 9, he began to release 13,398,341 XRP on a daily basis (three transactions so far), thus decreasing his daily sales every following week.

The overall amount of XRP sold since April 25 totals $372,119,701 in fiat.

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502 million XRP remains in Jed’s wallet

The Ripple co-founder still has 502,127,869 XRP remaining in his wallet. That is an equivalent of $732,937,169.

On May 1, McCaleb received a 442,127,865 XRP tranche from Ripple as part of his compensation from the company for founding it and serving as the first CTO.

As reported by U.Today earlier, blockchain analyst Leonidas Hadjiloizou expects McCaleb to run out of his XRP by late August completely.

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By now XRP has been moved to the top-eight spot on the CoinMarketCap scale as DOGE has been adding to its market capitalization as the fourth biggest coin and other altcoins have been outperforming XRP too.

At the time of writing, XRP is trading at $1.46 per coin.


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