While the cryptocurrency market has recently focused on the Solana (SOL ($238.59)) sales made by PumpFun developers, ZachXBT, one of the most well-known names in the industry, drew attention to the sales made by founders and developers in an altcoin.
PumpFun developers have been making waves in the cryptocurrency market for a while now by selling revenues from their platform in the form of SOL.
ZachXBT, on the other hand, said that what really needs to be paid attention to is the sales made by Ripple founders and the company, but no one is paying attention to this. According to the data, a total of $ 109 million worth of XRP ($3.10) was sent from founder Chris Larsen’s wallet to cryptocurrency exchanges such as Coinbase, Bitstamp and Bybit in January alone and sold.
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However, Ripple and its executives have been regularly selling large amounts of coins for a long time. One user asked how the amount of XRP held by developers for many years has not been exhausted. In response, ZachXBT said that the coins in question were mined and transferred to developer wallets before XRP was released. He added that the founders and developers still have several billion dollars worth of XRP in their wallets.
*This is not investment advice.
Continue Reading: Cryptocurrency Sleuth ZachXBT Criticizes Ripple: The Amount Of XRP The Founder Sold This Month Alone Is Unbelievable
