- Ripple co-founder and former CTO XRP He’s back to selling his stash. The manager has sold around 500 million tokens since it started selling again this year.
Ripple Labs‘s co-founder and first chief technology officer, Jed McCaleb, suspended the sale of XRP coins in September last year. However, according to new data shared by XRPscan, McCaleb has started pouring massive amounts of XRP into the crypto market again.
One crypto enthusiast stated that McCaleb has increased his sales by nearly 140 percent in the past three days, and the executive believes that the sale of XRP can be fully completed within a month.
Currently, Jed’s “tacostand” wallet holds roughly 250 million XRP.
Return of JED-i
Completely XRP Jed McCaleb is back again after the start of this year to sell the remnants of his massive XRP stash, according to data shared by the XRPscan platform, which focuses on trading.
Since January, McCaleb has dumped about 464.8 million XRP, which equates to $186,790,421 at the current market rate.
According to statistics, it is sold every week. XRP coin The amount was constantly changing, 18 million, 26 million and 42 million. As Twitter user Rafael Ken Aguilar noted, the executive has started selling nearly nine million XRP per day in the past three days, increasing his sales from four million to six million and increasing his sales volume by nearly 140 percent.
The same investor believes that if the sales rate continues like this, McCaleb will run out of all his XRPs in about a month.
to all #XRP strong believers, let me update us all.#XLM boss @JedMcCaleb whom in the last 3 days increased his XRP dump rate by approximately ~140%. So at this current rate, it requires 29 days or 1 month for his entire #Tacostand to stop dumping ducks.
While everyone forgets. pic.twitter.com/lezuTAxYFl
— Rafael Ken Aguilar (@rafaelken1989) May 24, 2022
Jed still has 250 million XRP
According to XRPscan, a total of 249,200,734 XRPs remain in Jed’s wallet called “tacostand”. A website created by the XRP community to monitor McCaleb’s rate of sale shows a slightly larger figure: 249,200,886 tokens.
Jed McCaleb receives regular payments from Ripple Labs as part of the settlement agreement signed when he left Ripple in 2013. Banned from the very beginning by agreement to dump all of the nine billion coins he received as compensation, McCaleb is only required to sell his XRP in small pieces as one of the provisions of the settlement agreement.
McCaleb left the company a year after Ripple was founded, as well as Ripple competitor, a blockchain targeting fast and cheap payments for financial institutions and remittances. Stellar (XLM) had established.
Depending on how much XRP McCaleb is selling each week, there are two possible dates his XRP is likely to expire: July 14 and August 8.
XRP, the sixth-largest cryptocurrency that has experienced a drop of nearly 1% in the last 24 hours, is trading at $0.40 at the time of writing, according to data from CoinMarketCap.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.