The controversial co-founder Ripple sells billions of tokens

How best to earn on cryptocurrencies? Buy, sell, trade or mine more blocks? For years, it has turned out that for years the best business in the cryptocurrency industry has been ... establishing them.

The scheme is always similar. Someone comes up with the idea of ​​starting their own cryptocurrency. He must therefore decide whether he creates it from scratch or uses blockchain technologies available, significantly simplifying and shortening the time to emit the final product on the market. In fact, it doesn't really matter whether it's initially based on blockchain, for example Ethereum will rise from scratch. Why? Because two completely different things matter: marketing and names of people who are behind the project. It does not matter whether these people are crystal honest or weigh down on their past, which in most industries would be a wolf ticket and a condemnation to financial banishment. Don't you believe Keep reading this.

Billions of tokens, billions of dollars

It just turned out that Jed McCaleb, who is a co-founder Ripple cryptocurrencies, has sold over 1 billion in the last five years owned XRP tokens. As a result, approximately USD 135 million was credited to his account. That's not all, because Blokchain Monitor Whale Alert estimates that Jed McCaleb it still has about 4,7 billion. XRP, i.e. almost 5% of the total number of all tokens on the market. Today they are worth - a trifle - 1,3 billion. USD.

The sale continues. Blokchain Monitor Whale Alert informs that in January 2020 Ripple co-founder has already sold 19 million XRP, collecting USD 5,4 billion. When will I sell them all? There are many indications that it may flood the market, because it will not be stopped by an agreement that did not allow to cash all tokens at once.

"At the current rate of sales, it would take up to 20 years to get rid of all XRP tokens, but you have to remember that the Ripple settlement is likely to expire in 2020." - indicates Whale Alert.

Who is Jeb McCeleb

Everyone who has followed the beginnings of the cryptocurrency market has heard this name. He seemed a great visionary in the first years. In 2000, he founded the decentralized eDonkey file sharing network, and 10 years later the Mt. cryptocurrency exchange. Gox, whose fall was one of the most famous in the history of the cryptocurrency market. The stock exchange had a share in around 70 percent of the entire global cryptocurrency market, and after Jed Caleb sold it, it turned out that her accounts do not have the majority of client funds. Losses were estimated at USD 473 million. Jed Jed Caleb, however, came out unscathed and in 2012 became a co-creator of the Ripple platform as well Stellar Lumens (XLM).

One sentence and a 40% drop in the exchange rate

In 2012, Ripple was still called OpenCoin, only later changing its name to today's name. Jeb McCeleb received 9,5 billion XRP for his work on the project. Already in 2014, he publicly admitted that he wanted to sell all shares. This information was enough for the price of the cryptocurrency to suddenly drop by 40 percent. So the other Ripple owners started negotiations to stop the decline and the supply of tokens on the market. As a result of the deal, the controversial co-founder was able to sell 1 billion XRP in the six years after signing the deal and 2 billion XRP a year later. It was these last 2 billion XRP that the programmer was supposed to get rid of in January this year. When will he sell the rest? Nobody knows this, but many people say that the contract does not contain specific provisions on this subject, so - as previously announced - he will want to convert them into dollars as soon as possible.