Ripple Co-Founder Moves $ 115M Into XRP, Raising Sale Concerns
Ripple co-founder Chris Larsen carried out an XRP transaction that piqued the interest of community members for its scale and raised concerns about the possibility of a large cryptocurrency sale.
According to Whale Alert, on September 22, Larsen moved 499,999,979 XRP from his wallet to an unknown address. At the exchange rate at the time of the transaction, its amount was over $ 115 million.
Users immediately began speculating about where these assets might go. Larsen did not stand aside and announced that he made a transfer to the wallets of the manager of New York Digital Investment Group.
“As you can see, I transferred XRP to NYDIG. I have known the founders for a while and have been impressed with the security of their service, as well as the top-class institutional standards. This is a true custodian solution 2.0 “, – he wrote.
While Larsen’s post suggests that he is not going to liquidate the cryptocurrency instantly, users noted that the services provided by NYDIG allow him to bring it to the OTC market without hindrance, whereas a transfer to the exchange would be especially suspicious..
In August, Whale Alert analysts drew attention to the fact that another co-founder of Ripple Jed McCaleb has increased XRP sales this year..
“We calculated the XRP sales by Jed McCaleb in 2020 to August 3,” they wrote. – In this segment, an additional 375 million XRP was sold through his accounts for $ 75 million. The average sale amount is 1.74 million XRP ($ 374,200) per day. Compared to 2019, the figure increased by 266 percent. The total sales volume until the end of 2020 is estimated at 630 million XRP, about 4 billion more XRP remain in his current account “.
XRP is the fourth largest crypto asset on the market at the time of publication, recently losing its third place to the stablecoin Tether. As in the beginning of the year, XRP continues to trade around $ 0.20, thus showing significant lag behind many other major cryptocurrencies..
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