The largest altcoin, Ethereum (ETH), has had a more lackluster performance compared to Bitcoin over the year.
However, ETH has recently recovered and has surpassed $3,600, increasing by over 4% in the last 24 hours.
This increase also motivated Ethereum co-founder Jeffrey Wilcke.
While sending large amounts of crypto to exchanges in the cryptocurrency market is generally interpreted as selling, Jeffrey Wilcke transferred 20,000 ETH worth $72.5 million to the cryptocurrency exchange Kraken today.
Evaluating the rise in ETH and selling profits, Wilcke continues to hold a significant amount of ETH despite these large transfers.
According to Arkham data, Jeffrey Wilcke currently still holds 106,000 ETH worth approximately $384 million.
“Ethereum co-founder Jeffrey Wilcke invested 20,000 ETH ($72.5M worth) in Kraken as Ethereum made a strong comeback today!
This is the fourth ETH sale in 2024, bringing the total ETH sold to 44,300 ETH ($148 million) at an average price of $3,342.
*This is not investment advice.