After selling 9 billion XRP in 8 years, how much assets did Ripple's former CTO cash out?

Original title: " How much money did Ripple's ex-CTO cash out as the eight-year sell-off is coming to an end? "

Original author: Azuma, Odaily Planet Daily 

In recent years, Ripple (XRP ), which has become less and less popular in recent years, is about to usher in a "big event".

The latest data from Jed Balance shows that only  17945934  According to the average daily selling speed in recent months, Jed will probably clear its positions in the next few days, which also means that its eight-year XRP selling is about to come to an end.

As part of Ripple's core founding team when it launched in 2012, Jed co-founded XRP with Chris Larsen and Arthur Britto in the initial distribution Enjoy a share of about 20 billion XRP. In 2014, Jed choose to leave due to a conflict of ideas (and subsequently founded Stellar) and took with him his share of XRP, totaling about 9 billion XRP.

In order to limit Jed's selling to have a greater impact on the XRP secondary market, the Ripple team had signed a selling restriction agreement with Jed at that time. Agreement constraints, Jed cannot sell more than $10,000 of XRP per week in the first year, and in the next three years, it will be relaxed to no more than $20,000 of XRP per week. After that, the content of the agreement has been adjusted to a certain extent, from The specific amount of constraints has become a constraint on the number of Tokens, that is, Jed is required to sell a maximum of 1 billion XRP during 2018-2019, and after 2020, it will be relaxed to a maximum of 2 billion XRP.

It is precisely because of the existence of the restriction agreement that Jed’s sell-off will last for eight years, so how much money did Jed cash out with these 9 billion XRP Woolen cloth?

Unfortunately, perhaps due to the gradual decline in the market position of XRP, among the currently available data sources at home and abroad, for Jed Most of the cash-out value statistics stopped before 2020, and data sources like  Jed Balance, which have always existed, only counted the number of XRP, and did not calculate the corresponding value in combination with real-time prices. So if we want to get the answer of the total value of cash out, we still need to make an estimate by ourselves.

Combined with the above picture, we can divide Jed's selling into points There are three stages: before 2021, from January 2021 to September 2021, and from January 2022 to the present.

First of all, it is the first stage. Fortunately, Whale Alert once made a statistics of Jed’s historical selling behavior at the end of 2020 (you can read the original text for the specific algorithm. I won’t go into details here), and the result is that Jed has cashed out 546 million US dollars through selling at this stage.

The second stage is the second stage, which is also the period when Jed sold the most. The median price of XRP is used to estimate its overall cash-out value. The result is that Jed has cashed out a total of about 2.1697 billion US dollars at this stage. The specific calculation process is as follows:

The last stage is the third stage. Continue the calculation method of the previous stage. The result is that Jed has cashed out a total of about 411 million US dollars in this stage. The specific calculation process is as follows:

< /p>

546 million, 2.1697 billion, 411 million, throwing away the last remaining 17945934  XRP in the wallet Not to mention, in the past eight years of selling, Jed has cashed out in total The total value is approximately US$3,126.7 million. It should be noted that this data is derived from the estimation model we set (number sold in the current month * median price in the current month), and there may be some discrepancies with the actual data, but the deviation should not be too large.

Some friends may ask at this time, with the end of Jed's "smash", is it possible to "rush" XRP? Regarding this operation, I personally strongly do not recommend it. There are three specific reasons:

First of all, purely from the perspective of the secondary market, the continuous sale of Jed has long been It is one of the important selling pressures of XRP, so the end of the selling can indeed weaken the selling pressure of XRP to a certain extent, but compared with the average daily trading volume of XRP of hundreds of millions of dollars, Jed’s daily trading volume in recent months The average sell-off is only in the millions of dollars, so it is worth considering how much this "certain degree" is.

Secondly, the current cryptocurrency market as a whole has not yet stabilized. One can tell exactly what the market will do next.

Finally and most importantly, in the past few years of development and competition, XRP and the concept of "cross-border payment" it represents are being narratively Keep getting weaker. With the advent of the Web3 era, we will continue to falsify some old concepts while proving some new concepts. Judging from the current development trend, Ripple is gradually sliding towards the latter.

Original link

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia