Jed McCaleb Sold 80 Million XRP In Two Week
Jed McCaleb who is former CTO of Ripple Lab, sold around 80 Million Ripple tokens to shrink his holding.
In the past Jed McCaleb worked on Ripple Lap for one year in 2012 under the project name OpenCoin but due to some reason left, so Jed is no longer on this project. At the end of the quit from the project, he got a huge amount of XRP tokens but under a he is not allowed to sell all the tokens at once. So usually he keeps selling his XRP holdings.
From the record of the XRPscan blockchain platform, it is fully clear that Jed McCaleb is continuously selling his holding. In the past 14 days he moved his token on exchange to sell 80 million XRP tokens.
According to the data of XRPscan, McCaleb’s “tacostand” crypto wallet released 17 transfers of XRP tokens. In each of the transactions, he transferred around 4.4 to 6.5 million of XRP tokens.
If we estimate the value of 80 million of XRP tokens according to the current price of the XRP on exchanges, which is $0.9 at the time of writing this article, then it is around $71,471,516.
It should be noted here, the Ripple team transferred around 182.3 million of XRP to Jed McCaleb’s wallet, which is worth around $138,747,891 ( according to the market price of XRP token on 1 August).
It seems that this is not going to stop for XRP tokens because at one side XRP team is bound under the restrictions to pay 8 billion XRP tokens to Jed McCaleb and at another side McCaleb doesn’t want to stop selling his tokens. Well in the present time Jed McCaleb has around 647 million XRP tokens.
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