224 Interactions, 6 today
A lot of investors got into bitcoin at a very early stage in the crypto economy’s existence. Jed McCaleb is extremely wealthy as a result of his early investments in the digital asset space, especially when he co-founded Ripple.
Jed was compensated with nine billion XRP coins for his contributions to the company’s creation and as the company’s first CTO. Since the beginning of April, the price of XRP has been rising. Following a period of largely sideways trading in February and March, XRP’s uptrend in April has continued unabated. At the time of writing, XRP was trading at $1.38 and had a market capitalisation of $67 billion, ranking it fourth in the market.
According to XRPscan records, Ripple co-founder Jed McCaleb deposited approximately 140 million XRP from his “tacostand” wallet, which was called and triggered while McCaleb was still operating with Ripple.
The aforementioned transactions mainly comprised 8,399,180 XRP over seven transactions, four transfers of 12 million XRP, and two carrying 22.6 million tokens each. With reference to a fiat equivalent, that is a hefty $194,941,391 in USD at the time of writing. The remaining balance in Jed’s wallet amounted to 453,861,016 XRP.
XRP enthusiast and Blockchain researcher, Leonidas Hadjiloizou monitored McCaleb’s XRP sales and tweeted about the dumps regularly on various occasions. This time was no different. He recently tweeted:
Jed will be selling 22.6 million XRP per day for the next 7 days (including today).
That’s 158.2 million in a week. A bit off from my calculations (expected 40+ per day) but still a high amount.
Let’s hope the high volume continues. pic.twitter.com/xEWbva04bx
— Leonidas (@LeoHadjiloizou) April 18, 2021
McCaleb’s earnings, which are occuring in smaller numbers, stood out to the researcher. McCaleb, as reported in his tweet, sells 22.6 million XRP per day rather than 40+ million.
On the opposite, he maintained his criticism of the ex-Ripple CTO’s holdings and said,
“McCaleb’s XRP riches may dry up by August or September of this year.”