Jed McCaleb’s ‘Tacostand’ funding wallet now has zero XRP remaining. What does it mean for Ripple?

2021-9-9 01:00

The original Ripple address used to fund former Ripple exec’s ‘Tacostand’ wallet has zero XRP remaining. The entirety of Jed McCaleb‘s allocation of XRP has now been paid out, which means that it’s only a matter of days before the founder of Stellar sells the remaining XRP from his ‘TacoStand’ wallet, which he has been doing every day since May this year.

Only 700 million XRP left to be sold from Jed McCaled’s Ripple-dumping wallet

McCaleb, the co-founder and CTO of Stellar, co-founded Ripple in 2011 and left the company in 2014 over internal disagreements. Immediately after his departure, McCaleb tried to dump all of the XRP he received as part of Ripple’s founding team but was promptly stopped by the rest of the company’s management.

According to David Schwartz, Ripple’s current CTO, the company initiated a series of lawsuits that prevented McCaleb from dumping his holdings all at once. Instead, he would receive his tokens in escrow payments throughout several years, a move that Ripple believed would preserve XRP’s market value.

And while McCaleb’s XRP dumping has been rather controversial, it wasn’t until the escrow account that funds his XRP wallet went dry that the market really began reacting.

According to crypto researcher Leo Hadjiloizou, the Ripple address used to fund McCaleb’s ‘Tacostand’ wallet has been emptied out. Last year, the address reportedly held over 4 billion XRP and has since transferred all of the funds to McCaleb. The final 174 million XRP was transferred to the wallet on September 1st.

The Ripple wallet that funds Tacostand is now officially EMPTY. A year ago this wallet held more than 4 billion XRP.

Tacostand balance: 709,911 million XRP pic.twitter.com/X06WER5Ufj

— Leonidas (@LeoHadjiloizou) September 1, 2021

Data from XRPScan has shown that McCaleb’s ‘Tacostand’ wallet currently has just over 709 million XRP. If he was to continue selling at his current rate, he would empty out his account in just under 90 days.

Many believe that once McCaleb sells the remainder of his XRP, the token wouldn’t see so much selling pressure and will jump in value. The Ripple community has reacted positively to the news, celebrating the fact that XRP will most likely see a significant reduction in sell pressure in the next couple of months.

The post Jed McCaleb’s ‘Tacostand’ funding wallet now has zero XRP remaining. What does it mean for Ripple? appeared first on CryptoSlate.

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zero xrp ripple remaining wallet tacostand funding

Источник: cryptoslate.com

zero xrp → Результатов: 29


Фото:

Zero Hash начала поддерживать Ripple XRP

Компания Zero Hash недавно объявила об успешном запуске Ripple XRP на своей платформе. Компания Zero Hash недавно объявила об успешном запуске цифрового актива Ripple XRP на своей платформе. Это должно еще более расширить инфраструктуру расчетов Zero Hash, которая используется платежными...

2020-6-20 13:45


98% of XRP Ledger Transactions Have “Zero Value,” Much like EOS & XTZ : Report

“Only 2% of transactions on the XRP ledger lead to value transfers,” reads the report by Cornell University. The report titled “We Know What They've Been Put Through: Revisiting High-scalability Blockchain Transactions,” talks about the network traffic of three major high-scalability blockchains EOS, Tezos (XTZ), and XRP.

2020-5-10 23:02


Crypto Giant Coinbase Launches Cross-Border Payments with XRP and USDC

Crypto exchange Coinbase is now offering cross-border payments service to enable customers to transfer funds using Ripple (XRP) and the stablecoin USDCoin (USDC). Coinbase made the announcement on its website, touting the service as fast and convenient: “You can now send money to any user with a Coinbase account around the world using XRP or USDC.

2019-4-2 16:43


Фото:

Ripple Adds Exchanges to xRapid Platform to Bolster XRP Ecosystem

On August 16, 2018, San Francisco-based blockchain startup Ripple announced the addition of three crypto exchanges as preferred partners to its flagship cross-border payments product xRapid. Ripple’s XRP has long been criticized as a token with zero utility; however, the new partnership with crypto exchanges is a step forward in developing a healthy XRP ecosystem.

2018-8-20 06:00


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