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Jed McCaleb Sells 214.6 Million In Last Three Weeks: Report by XRPScan

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Tue, 06/22/2021 - 11:55
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Yuri Molchan
Recent data says that co-founder of Ripple has dumped almost 215 million XRP within slightly less than past three weeks
Jed McCaleb Sells 214.6 Million In Last Three Weeks: Report by XRPScan
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Data provided by XRPScan indicates that in the last nineteen days, ex-CTO of Ripple, who also helped found it, Jed McCaleb, has released a whopping 214.5 million XRP tokens to be sold after he welcomed 408 million tokens from Ripple.

McCaleb dumps 215 million XRP

As per XRPScan, since June 3, founder of rivalling Stellar, McCaleb, has conducted twenty transactions, pushing large amounts of XRP from his “tacostand” wallet to crypto exchanges.

Three consecutive transfers carried 16,353,884 XRP, seven transfers were worth 12,915,667 XRP each, seven carried 8,221,608 XRP and three last moved 6,036,204 XRP each.

Jed received 408 million XRP from Ripple on the same day he started selling – June 3.

The total amount of XRP in fiat shifted by Jed since that day is equal to $124,354,817.

408 million XRP sent by the Ripple fintech giant to its former high-ranking employee amounts to $235,984,954.

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Image via XRPscan

Previously, U.Today reported that McCaleb had sold 453 million XRP in May.

At the time of writing, the sixth largest crypto by market cap, XRP, is changing hands at $0.6, as per data provided by CoinMarketCap.

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Here’s when Jed will run out of XRP

jed.tequ.dev website shows a chart of McCaleb releasing his XRP holdings to sell. Currently, there are three forecasts as to when the former Ripple chief tech officer is likely to run out of his XRP riches.

It will depend on how much he will be selling per week from now. If it’s 7,597,207 XRP on average, then McCaleb is likely to run out of XRP by November 12 (142 days). That’s the longest term forecasted.

If he sells 11,459,239 XRP per month, this term shortens to 25 September (94 days left). Should he sell 12,744,966 XRP (three months’ average), McCaleb will see his XRP holdings disappear by September 15, which makes it 84 days to go.

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Image via jed.tequ.dev
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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.