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453 Million XRP Sold by Jed McCaleb in May: XRPscan Data

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Fri, 06/04/2021 - 10:24
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Yuri Molchan
Recent data shows that in May and the first four days of June, Ripple co-founder McCaleb has transferred 453 million XRP to be sold
453 Million XRP Sold by Jed McCaleb in May: XRPscan Data
Cover image via jedmccaleb.com
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XRPscan analytics platform demonstrates that, since the beginning of May, Ripple's first chief technology officer, Jed McCaleb, has sold almost half a billion XRP from his "tacostand" wallet.

During this period of time, he has also received 408 million XRP from Ripple Labs. The transaction occurred on June 3.

$430 million worth of XRP sold by McCaleb in May

In May, Ripple cofounder Jed MacCaleb sold his XRP in stashes of 10.2 million, 10 million, 13.4 million and 17.3 million, changing the size every week.

In June, he has so far been selling XRP by 16,353,884 coins in every transfer. The total value of the XRP sold in fiat USD is $430,336,399.

At the moment, "tacostand" holds 617,345,763 XRP on its balance.

Jed McCaleb has been receiving regular payments from Ripple Labs as part of the settlement agreement signed when he left Ripple back in 2013 and went on to found Ripple's rival, Stellar, with its XLM coin that also targets fast and cheap payments for financial institutions and remittances.

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Image via XRPscan

Related
Ripple Wires 408 Million XRP to Jed McCaleb, Helps Top Exchanges Shift 110 Million XRP

Ripple moves XRP to Bitso

Around 18 hours ago, Whale Alert detected Ripple sending 10 million XRP to its ODL partner and crypto unicorn in Latin America: Bitso exchange.

Apart from that, major U.S. exchange Bittrex sent 17 million XRP tokens to Upbit and an anonymous whale moved 10 million XRP to the Japanese exchange Bitbank.

Now that Bitcoin is being attacked by many as a coin that consumes a lot of energy produced from fossil fuels, Ripple-affiliated XRP promotes itself as a green cryptocurrency that does not need proof of work (PoW) mining, since it has been pre-mined.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.