Will XRP’s Abysmal Performance Return Following Jed McCaleb’s Huge Sell-Offs?

Will XRP’s Abysmal Performance Return Following Jed McCaleb’s Huge Sell-Offs?
фото показано с : zycrypto.com

2020-8-4 21:45

Popular cryptocurrency transactions tracker, Whale Alert has revealed through an investigation that Ripple co-founder Jed McCaleb has sold 375 million XRP so far in 2020. The total value of which is $75 million – sold around 1.74 million XRP per day.

In 2014, McCaleb revealed publicly that he and other Ripple co-founders kept a hefty stash of XRP, of which 9 billion were his. He then announced he would begin selling his XRP holdings. He first had an agreement with Ripple that enabled him to sell XRP at fixed amounts every year. This was revised in 2016, which allowed McCaleb to sell his XRP depending on the average daily volume.

Whale Alert tracked the wallets related to McCaleb and managed to track sales of around 1.05 billion XRP from 2014 to 2019. Whale Alert estimates that as of August 3, 2020, McCaleb still has 4 billion XRP remaining in the settlement account which, at the pace of how he is selling, could take him up to 2023 to sell them all.

When Whale Alert published the story in February this year, McCaleb criticized it, citing that there are others who sell more XRP than him.

At that time, McCaleb ramped up his selling, reaching 3.609 million XRP per day. This was the month when McCaleb can start selling 1.5 percent of the average daily volume of XRP, as per his agreement with Ripple. 

The question remains as to how much does McCaleb’s sales affect the price of XRP. Whale Alert admitted it does not have enough data to make a conclusion, but because McCaleb is exclusively selling, then he is adding to the total XRP amount available on the market.

Most pundits say McCaleb’s sales do not affect XRP’s price as it is done in a coordinated way. Because he can now sell based on the percentage of the average daily volume, the only factor affecting his sales is the daily volume, which has increased significantly since March. XRP analysts believe the sooner McCaleb’s holdings are depleted, the better for Ripple.

Still, altcoins are performing very well lately. XRP is now priced at $0.3105, a 75 percent increase since the beginning of its rally on July 7. Average volume has also increased since the March 2020 crash. It will be interesting to see if, in this environment, people like McCaleb, who are exclusively sellers of XRP will continue or will ever have an effect on the cryptocurrency.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 1.4881 (+0.15%)
Объем 24H $12.209b
Изменеия 24h: -4.14 %, 7d: 39.73 %
Cегодня L: $1.4481 - H: $1.5078
Капитализация $84.823b Rank 6
Цена в час новости $ 0.298 (399.36%)

mccaleb jed million sold xrp far co-founder

Источник: zycrypto.com

mccaleb jed → Результатов: 90


Ripple перевела 100 миллионов XRP сооснователю проекта Джеду МакКалебу

XRP на $26 млн были переведены соучредителю Ripple Джеду МакКалебу (Jed McCaleb) с кошелька Ripple Lab. Многие инвесторы беспокоятся о возможной массовой продаже криптовалюты и снижении ее цены. Об этом сообщает Twitter-канал Whale Alert, который следит за крупными криптовалютными транзакциями.

2019-9-10 17:42


Два трейдера подали в суд на основателя MtGox за необеспечение безопасности биржи

На основателя MtGox Джеда МакКалеба (Jed McCaleb) подали в суд два пользователя закрывшейся биржи. Предполагается, что МакКалеб знал о проблемах безопасности площадки задолго до ее краха. Согласно судебным документам, которые были поданы еще в мае этого года, но обнародованы только сейчас, Джозеф Джонс (Joseph Jones) и Питер Штайнметц (Peter Steinmetz) обвиняют бывшего генерального директора MtGox […]

2019-6-27 09:00


Фото:

Mt. Gox founder facing lawsuit for losing 80,000 BTC

Serial entrepreneur Jed McCaleb, and creator of the now-defunct Mt. Gox, is facing a lawsuit over his handling of the failed cryptocurrency exchange.   Former Mt. Gox traders Joseph Jones and Peter Steinmetz allege McCaleb was “fraudulent” and “negligent” in his representation of the exchange, partly leading to the loss of their Bitcoin when it was hacked in the notorious hacking incident from 2014, CoinDesk reports.

2019-6-26 14:47


Stellar public network successfully upgrades to Protocol 11; three massive changes announced

Stellar public network will complete an upgrade to Protocol 11, with new and improved additions to the network as of June 10, 2019,  1600 UTC. Jed McCaleb, Co-founder of Stellar, tweeted, “Enough validators have armed an upgrade to Stellar Protocol 11 on Monday at 16:00 UTC that it is locked in now! If you run […] The post Stellar public network successfully upgrades to Protocol 11; three massive changes announced appeared first on AMBCrypto.

2019-6-10 10:30


дальше еще 41 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRP Price Will Escalate To $1.03 This Week If This Happens: Analyst

In a new analysis, crypto analyst Dark Defender (@DefendDark) highlights a significant pattern in the daily XRP/USDT chart that suggests a possible sharp rise in the price of XRP. According to his analysis, the XRP price is possibly forming a technical pattern known as a “bull flag” after decisively breaking above the multi-year resistance at $0.

XRP NVT Ratio Has Been High Recently: What It Means

On-chain data shows the XRP Network Value to Transactions (NVT) Ratio has seen some spikes recently. Here’s what it means for the asset. XRP NVT Ratio Reached A High Of 1,162 Earlier In The Month In a CryptoQuant Quicktake post, analyst Maartunn has discussed about how the latest trend in the NVT Ratio of XRP has been like.