Crypto NewsAnalysisBig Transfer from Ethereum Co-Founder! However, the $473 Million Threat Continues!

Big Transfer from Ethereum Co-Founder! However, the $473 Million Threat Continues!

Ethereum co-founder Jeffrey Wilcke made a large ETH transfer to Kraken, according to data.

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The possibility of the SEC approving spot Ethereum ETFs has increased, leading to a rally in ETH price. At this point, while the ETH price was experiencing an increase of more than 23% in the last few days, the ETH step came from Ethereum co-founder Jeffrey Wilcke.

While sending large amounts of crypto to exchanges in the cryptocurrency market is generally interpreted as a sale, Jeffrey Wilcke transferred 10,000 ETH worth $37.38 million to the cryptocurrency exchange Kraken today.

Wilcke, who evaluated the rise in ETH and sold profits, continues to hold a significant amount of ETH despite these large transfers.

According to Spot On Chain data, Wilcke currently holds 126 thousand ETH worth $473 million.

“Ethereum co-founder Jeffrey Wilcke deposited 10,000 ETH (worth $37.38 million) into Kraken ~2 hours ago at an average price of $3,738.

Since the beginning of 2024, he has deposited 24,300 ETH worth $75.52 million on Kraken at an average price of approximately $3,108, and the last deposit was made before the price started to rise!

Currently, Jeffrey Wilcke still has 126 thousand ETH ($473 million).

Ethereum continues to trade at $3,803 at the time of writing.

*This is not investment advice.

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