- McCaleb is likely to take 20 more years to sell all the 4.7 billion XRP he holds.
- As the agreement between McCaleb and Ripple expires, larger transactions are expected in 2020.
According to Whale Alert, a platform that monitors colossal transactions involving cryptocurrencies, the co-founder of Ripple Jed McCaleb has already sold 1 billion XRP tokens since 2014. A Medium post by Whale Alert revealed that McCaleb has 4.7 billion XTP tokens left to sell, which makes up about 5% of the total supply. The current XRP price makes the co-founder of the third-largest crypto by market capitalization worth one billion dollars.
In the latest Whale Alert, McCalen sold 19 million XRP worth $5.4 million in January. The amount he disposes of periodically could increase immensely this year because the agreement between him and Ripple expires.
At the current rate it would take him around 20 years to sell all of it, however, his activities have been limited by the settlement agreement with Ripple, which is likely to expire sometime in 2020.
The post by Whale Alert alarmed the XRP community but the platform says that it “didn’t want to alarm people, but hope they now have a better view of what’s going on.” Whale Alert tracked and posted the addresses belonging to McCaleb saying:
“By analyzing over 90,000 transactions we were able to track around 8 billion XRP to Ripple, a settlement account and his personal accounts from which he actively sells.”
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