His XRP is burning his fingers – We’re not stopping Jed McCaleb anymore. The billionaire continues to liquidate his XRP at breakneck speed. The former founder of Project Ripple removed a sizable chunk of the interbank token in 2020, and it doesn’t look like it’s going to stop.
1.2 billion XRP were liquidated in one year
Large whale blockchain transaction analysts at Whale Alert recently updated their XRP sales from Jed McCaleb.
Recall that this former founder of Ripple left this company for good in July 2013, before starting the open source project Stellar (XLM) in 2014 – which seems to have been a rather good decision.
According to the sales estimates scanned by Whale Alert, Jed McCaleb would have sold no less than 1.2 billion XRP in 2020 for a total value of $ 411 million with an average sales price of 0. $ 34 per XRP.
To give you an idea of the sharp acceleration in liquidations over the past year, Stellar’s current technical director had sold just 1 billion XRP for $ 135 million in XRP from 2014 to 2019 inclusive. H. 6 years.
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Billions of XRP to sell
Although his XRP has already grossed him more than half a billion dollars (546 million to be precise), Jed McCaleb is far from finished with the interbank token.
In fact, along with the other founding members of Ripple, they’ve given themselves huge amounts of XRP. By the time Jed McCaleb left the company, he owned nearly 10% of the total amount of XRP in existence, or 9.5 billion units.
Although he can contractually resell « only » up to 1.5% of the global XRP trading volume per day after a lengthy legal battle with his former company, he does not miss a second.
His XRP address indicates that McCaleb liquidated around 11 million XRP every day for the past month. At least until December 23rd. Why this date? Christmas probably wouldn’t have stopped him, but the Securities and Exchange Commission’s decision that day to classify XRP as collateral must have raised eyebrows among their legal advisors.
How long will this disrupt Jed McCaleb’s XRP sales? Be aware that he still has at least the 7 billion units he has yet to get rid of and that his contractual sales agreement with Ripple runs until … 2023.