Monday, May 04, 2020 12:15:59 PM
Ripple Co-founder Jed McCaleb (The Stellar CTO) Sold 54 Million XRP in April
https://ih.advfn.com/stock-market/COIN/XRPUSD/crypto-news/82364695/ripple-co-founder-jed-mccaleb-sold-54-million-xrp
Ripple co-founder Jed McCaleb sold more than 54 million XRP in April and still has billions left to sell, according to his wallet activity.
Ripple Co-founder Jed McCaleb Sold 54 Million XRP in April
TURNER WRIGHT
https://cointelegraph.com/news/ripple-co-founder-jed-mccaleb-sold-54-million-xrp-in-april
Ripple co-founder Jed McCaleb sold more than 54 million XRP in April and still has billions left to sell, according to his wallet activity.
Analyzing known wallets for Ripple co-founder Jed McCaleb shows he sold off at least 54 million XRP between April 1-30.
According to a May 2 report by TheCryptoAssociate based on data from McCaleb’s known addresses, the Ripple co-founder appears to be liquidating his supply of tokens on a regular basis. Data shows that the wallet address supposedly used by McCaleb to sell XRP received an average of 1.8 million tokens daily in April, totaling 54,215,405 XRP — $11.7 million at the time of press.
Billions of XRP left to sell
McCaleb is a key figure in cryptocurrency’s history, having created the Mt. Gox exchange and co-founded Stellar. He also co-founded OpenCoin in 2012, which later became Ripple, and was allocated 9.5 billion XRP when the 100 billion supply was pre-mined.
This large supply of coins has led to controversy surrounding McCaleb when he announced his intention to sell his portion of XRP, a declaration that caused the token price to fall 40% within 24 hours. He then negotiated a seven-year agreement with Ripple that limited his monthly and annual sales of XRP.
As Cointelegraph has reported, the Stellar CTO still has billions of XRP tokens available in his wallets — nearly 4.7 billion as of February 2020. In response to concerns as to how his behavior might influence the XRP price, McCaleb told Cointelegraph that he has been selling his XRP “at a slow, steady rate” and has no desire to “negatively impact other companies in this industry.”
Recent XLMUSD News
- XRP And XLM Blast: Analyst’s 20X Rally Projection To ‘Melt Faces’ • NEWSBTC • 04/02/2024 05:23:21 AM
- Stellar completes Protocol 20 upgrade, rolls out Soroban smart contract platform • Crypto Briefing • 02/21/2024 12:58:40 PM
- Stunning Correlation Emerges Between XRP And XLM, What’s Going On? • NEWSBTC • 11/14/2023 11:00:36 PM
- Top 5 Bitcoin-Like Altcoins That Could Make You A Millionaire In The Crypto Bull Run • NEWSBTC • 10/31/2023 08:00:50 PM
- Crypto This Wednesday: Stellar Integrates Smart Contracts, Floki Launches Staking Feature, and More • IH Market News • 10/18/2023 05:38:45 PM
- Crypto this Tuesday: Chase UK Bans Crypto Transactions, Coinbase Registers with Bank of Spain, and more • IH Market News • 09/26/2023 06:30:41 PM
- Crypto This Monday: Coinbase Faces Challenges in India, Restructuring at Celsius, and More • IH Market News • 09/11/2023 06:25:03 PM
- Stellar (XLM) Holds Past Week Gains As Bear Taking Control Of The Market • NEWSBTC • 09/11/2023 11:00:50 AM
- Stellar (XLM) Soars By 17% In A Single Week – Can Bulls Maintain Push To $1? • NEWSBTC • 09/09/2023 05:00:41 PM
- XRP Rival Stellar Lumens (XLM) Acquires Stake in Cash Transfer Giant MoneyGram Via Foundation • The Daily Hodl • 08/17/2023 04:55:49 PM
- Crypto This Wednesday: Coinbase to Trade Crypto Futures, Ledger Integrates with PayPal, and More • IH Market News • 08/16/2023 05:22:21 PM
- Stellar dips into treasury to buy minority stake in MoneyGram • Cointelegraph • 08/16/2023 04:08:28 AM
- Crypto This Friday: XRP Jumps After Victory Against SEC, Multichain Shuts Down Trades, and More • IH Market News • 07/14/2023 05:31:34 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM