The co-founder and former chief technology officer of Ripple, Jed McCaleb, significantly increased the volume of XRP tokens he has sold, according to data from the analytics portal Whale Alert.
Since 2014, the former Ripple employee has held more than 9 billion XRP in his accounts. The company entered into an agreement with him prohibiting him from selling the entire amount at once. Ripple, in turn, agreed to pay McCaleb regular tranches.
Earlier Whale Alert estimated that from 2014 to 2019 he sold 1.05 billion XRP ($325.5 million at the current rate) for fiat.
Since the beginning of 2020, McCaleb has sold 375 million XRP for $75 million. On average he sells the cryptocurrency for about $374,200 per day. This figure is up 226% compared with the previous year.
Whale Alert expects that McCaleb’s total volume of sold cryptocurrency will reach 630 million XRP ($195.3 million) by year end. In total, about 4 billion tokens remain on his accounts ($1.24 billion).
Earlier this year, McCaleb stated that the agreement with Ripple excludes negative impact of his token sales on XRP’s price.
In April he received another tranche of 63.7 million XRP ($12.3 million at the rate at the time). Before that Ripple paid him 100 million XRP (~$26 million at that rate) in September.
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