Jed McCaleb transferred 202 million XRPs.
Ripple ‘s former CTO, Jed McCaleb, seems to have made or is preparing to make transfers that will still hurt XRP investors in the last 10 days. Looking at McCaleb’s transactions on XRPscan, it is seen that over 200 million XRPs are made available for sale.
202 Million XRP Getting Ready For Sale
Looking at McCaleb’s transfers after April 15, 11 separate transactions stand out. The total amount of these transfers from the famous founder’s tacostand wallet is 202 million. It is known that the funds from Jed McCaleb’s wallet were subsequently sent to Bitstamp or similar exchanges and sold.
It is seen that the total value of the funds at the time of the transactions was more than 231 million dollars. In 2013, when McCaleb left Ripple, which he founded, a certain amount of XRP is sent to the Tacostand wallet, which was established every week. According to the agreement between McCaleb and Ripple, the reason for the intermittent sending of funds to this wallet is to prevent heavy sales.
Despite this, it seems that the famous founding partner continues to sell heavily. McCaleb’s ability to sell by trade volume, on the other hand, reduces the selling pressure relatively. It is estimated that less than two billion XRPs remain in the hands of the famous name, whose XRP sales continue at full speed. Blockchain researcher Leonidas Hadjiloizou emphasized in his statement on the subject that he expects McCaleb to sell 22.6 million XRPs on a daily basis. This indicates that the funds may end between August and September.
As of the time this article was written, XRP is being traded at $ 1.25.
It is not investment advice.