Ethereum Co-Founder Moves $6M ETH 🔄
Ethereum co-founder Jeffrey Wilcke has once again made headlines by moving 1,500 ETH (around $6 million) to Kraken. The transaction happened as Ether’s price dipped slightly below the $4,000 mark, according to Lookonchain data.
This isn’t the first time Wilcke has transferred large sums of ETH. In August, he deposited $9.22 million worth of ETH to Kraken, following earlier transactions worth hundreds of millions.
While moving crypto to an exchange wallet doesn’t always mean a sale, speculation remains high after Wilcke reposted a comment suggesting he may “sell more in the future.”
Whales Accumulate ETH Despite Price Dip 🐋
While Wilcke’s moves caught attention, they are small compared to recent whale activity. Over the past two days, 15 wallets purchased more than 406,000 ETH valued at $1.6 billion.
These buys came through exchanges and service providers including Kraken, Galaxy Digital, BitGo, and FalconX.
Despite ETH dropping 13% in the last week, whales appear to see this as a buying opportunity, signaling confidence in Ethereum’s long-term potential.
Ethereum Whale Behavior Trends 📊
This isn’t an isolated case. Last month, whales accumulated 260,000 ETH ($1.14 billion) within just three days. Earlier, another whale shifted billions from Bitcoin into Ethereum, building an ETH position exceeding $4 billion.
Such moves suggest that institutional and high-net-worth investors continue to treat Ethereum as a core digital asset, even in volatile conditions.
Final Thoughts 🚀
While Ethereum’s co-founder Jeffrey Wilcke may be offloading small amounts of ETH, big-money players are doubling down with billion-dollar purchases. This contrast highlights a broader trend: Ethereum whales are unfazed by short-term dips and are betting on ETH’s future strength.
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