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

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.

#Ethereum co-founder Jeffrey Wilcke (@jeffehh) deposited 10,000 $ETH ($37.38M) to #Kraken at $3,738 ~2hrs ago.

Since the start of 2024, he has deposited 24,300 $ETH to Kraken at ~$3,108 ($75.52M), with the last deposit done before the price started to soar!

Currently, Jeffrey… pic.twitter.com/sERRId8yfj

— Spot On Chain (@spotonchain) May 23, 2024

*This is not investment advice.

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