Analysis of the well-known wallets by Ripple co-founder Jed McCalebis observed that Between April 1 and April 30, at least 54 million XRPs were sold.
According to a report by TheCryptoAssociate on May 2nd based on data from the Directions Acquaintances of McCaleb, Ripple co-founder appears to be regularly liquidating his token stock. The data show that the address of the wallet allegedly used by McCaleb to sell XRP received an average of 1.8 million daily tokens totaling 54,215,405 XRPs in April, which is equivalent to $ 11.7 million at the time of printing.
Billions of XRP are still for sale
McCaleb He is a key figure in cryptocurrency history; founded the Mt. Gox stock exchange and was a co-founder of Stellar. In 2012, he co-founded OpenCoin, which later became Ripple.and 9.5 billion XRP were allocated to him when delivery of 100 billion was discontinued.
This large supply of coins has led to the controversy surrounding McCaleb announced its intention to sell its part of XRP, a statement that resulted in the token price falling 40% within 24 hours. He then brokered a seven-year contract with Ripple that restricted his monthly and annual XRP sales.
As Cointelegraph reported, the CTO is from Stellar They still have billions of XRP tokens in their wallets, almost 4.7 billion as of February 2020. In response to concerns about how his behavior might affect the price of the XRP, McCaleb Cointelegraph said so He has sold his XRP “slowly and steadily” and does not want to “negatively influence other companies in this branch”.