Ethereum Co-Founder Moves Millions in ETH to Kraken Amid Market Surge

Jeffrey Wilcke, a co-founder of Ethereum, has transferred a significant amount of ETH to the crypto exchange Kraken.

Large Transactions

Wilcke sent 10,000 ETH (worth $27.52 million) to Kraken on Wednesday and 4,300 ETH (worth $10.75 million) over the weekend.

Purpose Unknown

It’s unclear why Wilcke moved the ETH, but it could be for sale on the open market through Kraken.

Remaining Holdings

Despite the transfers, Wilcke still holds over 135,738 ETH, worth over $371 million.

Market Context

The ETH transfers occurred as Ethereum hit two-year highs, trading at $2,738 at the time.

Other Notable Transactions

An early Ethereum investor recently deposited 39,260 ETH (worth $87.5 million) to Kraken after five years of inactivity. If sold, the investor could have made a profit of $78 million.