Ethereum Co-Founder Sends 20,000 ETH to Kraken Amid $3,600 Price Surge
Ethereum co-founder, Jeffrey Wilcke, recently made a big move by transferring 20,000 ETH to the crypto exchange Kraken. The value of this transfer amounted to $72.5 million and coincided with Ethereum’s price hitting a high of $3,600. This move comes after Wilcke sold 10,000 ETH for $37 million back in May, making this his fourth transfer of the year.
While these transfers may suggest that Wilcke is cashing in on Ethereum’s price rally, it’s worth noting that he still holds around 106,000 ETH, valued at approximately $382 million based on current market prices. The data indicates that he has sold a total of 44,300 ETH in 2024, maintaining a significant crypto reserve.
Ethereum itself saw some strong movement, nearing $3,700 before experiencing a slight pullback. At the time of writing, it was trading at $3,587, showing a nearly 3% increase in the last 24 hours. This story is still developing, so stay tuned for more updates.
In other news, Ripple’s RLUSD stablecoin is on track to receive approval in New York with a launch expected on December 4th, and Celsius has initiated the second distribution of $127 million to eligible creditors. Stay informed with the latest updates in the crypto world!
