XRP Co-founder Jed McCaleb Sold More than Billion XRP And More Billions XRP will Sell Soon, XRP holders Rekt?
As per the Analysis by blockchain monitor Whale Alert report, the Ripple co-founder and former CTO Jed McCaleb sold the more than one billion XRP between 2014 and 2019 and even 19 million XRP just sold in January 2020, reported on 06 February 2020.
Basically, when XRP created back in 2013 then 9.5 billion XRP was allocated to the co-founder Jed McCaleb out of the total 100 billion pre-mined XRP. This large share of the supply has a settlement agreement between him and Ripple where the XRP coins will only be unlocked over the years.
Whale Alert is a chain analysis company that tracks the large transactions on the blockchains and does research or analysis of these transactions.
As per the Whale Alert report, Jed McCaleb sold the 1.05 billion XRP coins between 2014 and 2019 through Bitstamp exchange at an average sale price of 0.129 cents per XRP that results into the total sale amount of $135 million USD approx. But he is still selling the XRP coins where 19 million XRP was just sold in the last month.
Even after enough selling of XRP Jed McCaleb still owns the 4.7 billion XRP which is around 5% of total existing XRP today and this amount worth more than one billion dollars at the current price.
Recently, in the interview with Yahoo Finance, the Fundstrat’s Global Advisors Managing Partner & Head of Research Tom Lee says Bitcoin price will gain 197% of value in the next 6 months this year,
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