Over the past seven days, Ripple’s first chief technology officer Jed McCaleb has mobilized to sell 111 million XRP from its crypto wallet, according to data provided by analytics platform Bithomp. With this data in mind, Blokckchain analyst Leonidas Hadjiloizou said McCaleb will be completely out of XRP by the end of the summer. Details are in our news.
Jed McCaleb, who helped Chris Larsen find Ripple Labs, transferred $ 177,045,654 worth of XRP from his “tacostand” wallet to be converted into fiat currency. McCaleb sold 18.5 million XRP a day last week. This week, McCaleb is expected to reduce its daily XRP sales to 17,301,056 tokens. Because, according to data on Bithomp, it sold so much XRP on May 2. Researcher Hadjiloizou believes that Jed, which sells an average of 15 million XRP a day, will run out of XRP stock by September.
This week (Sunday to Saturday) Jed will be selling 17,3m XRP per day, slightly less than the 18,5m in the past week.
🌮 was topped up yesterday with 442m XRP. ATM, Jed holds a little less than 1,7b XRP.
At 15m XRP per day, all the XRP will be gone by the end of the Summer. pic.twitter.com/ubRmuKHe5P
— Leonidas (@LeoHadjiloizou) May 2, 2021
As it is known, when Jed McCaleb left Ripple Labs, he received nine billion XRP coins for his assistance as a partner and CTO of the organization. The company and it made a deal to protect the price of the XRP token, and it was determined that only a limited amount of XRP can be sold per day. This sale is calculated based on the XRP transaction volume 2 weeks ago. Hadjiloizou reminded that on Sunday, May 2, McCaleb received another portion of the XRP that it should have from Ripple Labs: 442,127,865 tokens.