reports a massive ETH move by Ethereum co-founder Jeffrey Wilcke. According to Wu, Wilcke transferred 22,000 ETH worth over $41 million to the Kraken exchange.
Ethereum co-founder Jeffrey Wilcke transferred 22,000 ETH to the Kraken exchange. The last time Jeffrey Wilcke's address transferred ETH out was 29 months ago when he transferred 15,000 ETH into Kraken. At present, the Jeffrey Wilcke address still holds…He adds that the last time Jeffrey Wilcke's address transferred ETH out was 29 months ago, on Jan. 6, 2021, when he transferred 15,000 ETH to Kraken.
Lookonchain observed that the move coincided with a marginal 0.4% drop in the ETH price. The on-chain analytics provider thinks that given the -2% depth data it observed on Kraken, the Ethereum co-founder might not have sold all of the ETH. At the time of writing, ETH was down 2.04% in the last 24 hours at $1,865.
It added the noteworthy fact that Wilcke sent a test transaction of 0.001 ETH 30 minutes before depositing 22,000 ETH. The motive behind the massive Ethereum move remains unknown at press time. However, the reasons why investors often send their coins to exchanges include selling them, for staking reasons, airdrops and others.observes that as more ETH moves away from exchanges into self-custody and DeFi options, many of these coins have been absorbed by the largest whale addresses on the ETH network.
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