1 Billion XRP dumped by Co-founder Jed McCaleb according to a blog post by Whale Alert. After the recent dump, he will still be left with 4.7 Billion XRP. Many speculate that the price of XRP may drop but the market indicates a bull run for XRP in the past few days.
Whale Alert is in the crypto whale business. They monitor and analyze blockchains and through Twitter and Telegram they report interesting transactions that they detect. They believe transparency is essential for blockchain adoption and that is why they have decided to share some of our knowledge through a series of short articles.
So what are whales? In general a whale is someone who controls enough of a certain asset to be able to influence the price in a meaningful way. There are two types of whales: natural and artificial. A natural whale acquired assets on the market while artificial whales received their assets for free, either upon creation of the asset or through other means. The Winklevoss twins are natural whales, having bought most of their Bitcoins in 2013, long after Bitcoin was created. There are artificial whales on almost every blockchain, but for this article we will take a closer look at one of the most famous ones: Ripple founder and former CTO Jed McCaleb.
In September 2019 we reported a transfer of 100 million XRP from Ripple to McCaleb’s wallet. This transfer was part of a settlement agreement between him and Ripple which established how much of his assets he would be able to sell. McCaleb’s assets are part of his compensation for his role as a founder of Ripple; he claims to have received 9 billion XRP tokens spread over several addresses at the start of the Ripple ledger. We were able to attribute genesis and other addresses to McCaleb by combining posts made from his blog, XRP Talk and Ripple’s forum (all three have since been taken offline) and information available on the public ledger. 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.
In September 2019 they reported a transfer of 100 million XRP from Ripple to McCaleb’s wallet. This transfer was part of a settlement agreement between him and Ripple which established how much of his assets he would be able to sell. McCaleb’s assets are part of his compensation for his role as a founder of Ripple; he claims to have received 9 billion XRP tokens spread over several addresses at the start of the Ripple ledger. Whale Alert were able to attribute genesis and other addresses to McCaleb by combining posts made from his blog, XRP Talk and Ripple’s forum (all three have since been taken offline) and information available on the public ledger. By analyzing over 90,000 transactions they were able to track around 8 billion XRP to Ripple, a settlement account and his personal accounts from which he actively sells. 1 Billion XRP dumped by Co-founder but it has yet to change the market negatively.
