A recent Medium post from blockchain monitor Whale Alert showed that Stellar CTO Jed McCaleb sold off more than 1 billion XRP between 2014 and 2019. The post attempted to analyze whether or not McCaleb’s sale of XRP will affect the price of the crypto. Whale Alert noted that compared with other total trade volumes per day, the amount McCaleb is selling seems insignificant.
Following up on this, McCaleb told Cointelegraph in an interview that it’s strange that so many people are focused on his recent trading of XRP, noting that others have sold much more in comparison. He said:
“I have been transparent from the beginning. The market has known for years that I have been selling my XRP at a slow, steady rate. My investment decisions are not based on any desire to negatively impact other companies in this industry. I think the history to date shows there is no impact on the market, and I don’t see any reason why that will change.”
McCaleb, who served as the co-founder of Ripple until 2013 and is now the CTO of Stellar (XLM), also responded to assumptions that he was dumping XRP to hurt Ripple. McCaleb mentioned that he doesn’t view different blockchain networks to be in competition with one another. He explained:
“We’re all working towards making blockchain a viable, transformative industry. I think we can do that more effectively if we’re supportive of others in the space. For my part, I’m focused on growing the Stellar ecosystem.” Read More...