The data shared by the XRPscan platform shows that Ripple co-founder Jed McCaleb has moved from his electronic address to sell close to 265 million XRP in the last 20 days. Besides, almost 400 million XRP remained in the “Taco stand” wallet. The net worth of his fortune has recently dropped 27 percent, according to Forbes. Details are in our news.
XRPscan shows that Jed McCaleb has carried 20 transfers of XRP at 10 million, 13.4 million and 17.3 million after receiving 442,127,865 XRP from a Ripple address since May 2. Last week, the Ripple co-founder moved 80.4 million XRP (six transfers of 13,398,341,010000 XRPs each) for sale. This week, it sells 10,008,592.270000 XRP daily, with just over 60 million tokens in total. Currently, McCaleb has 399,263,523,855929 XRP left in “tacostand”. This equates to about $ 449,116,308 at the current price of $ 1.12.
Will McCaleb Reduce Its Daily Sales?
The amount of XRP sold by Ripple’s co-founder (which left Ripple in 2013 to build the rival Stellar blockchain) is falling every week. It started May by selling 17,301,056 XRP. In the second week it was 13.4 million and now 10 million. In April, it first sold 12,093,062 XRP per day, then began selling 8,399,180 XRP every day.
Blockchain researcher and analyst Leonidas Hadjiloizou believes McCaleb’s XRP will run out in early September as the first nine billion XRP stores are getting smaller and smaller.
The Worth of Larsen and McCaleb Wealth Decreased
11 cryptocurrency billionaires saw significant declines in the value of their assets between May 10 and May 19 when a heavy crypto market decline was in full swing. Among them were Chris Larsen (former CEO of Ripple) and Jed McCaleb.
According to a Forbes article, their XRP-based fortunes decreased by 19 percent and 27 percent, respectively. Larsen lost $ 1.3 billion and McCaleb $ 1.6 billion. Other “victims” include Coinbase CEO Brian Armstrong, Winklevoss twins, Barry Silbert, and a few others.
MicroStrategy CEO Michael Saylor and global investor and Bitcoin supporter Tim Draper were the top losers. Binance CEO Changpeng Zhao suffered zero financial loss in his $ 1.9 billion fortune. Although Zhao stated that most of his assets consisted of cryptocurrencies, he did not explain how he was able to maintain this after the sharp decline.