Ethereum co-founder Jeffrey Wilcke transferred a massive amount of ETH to exchanges

Analysts tracking blockchain data interpreted the wallet activity of Jeffrey Wilcke, one of the co-founders of Ethereum, as an important signal of a potential sell-off. Blockchain data shows that Wilcke transferred approximately 79,258.61 $ETH, which is worth around $157 million at current market prices.

According to the analysis, an address believed to belong to Wilcke became active again after about seven months of inactivity. It was observed that within minutes a large amount of $ETH was sent from this address to the cryptocurrency exchange Kraken through four different intermediary addresses.

According to blockchain data, after the transfers Wilcke’s main wallet still holds 27,421.73 $ETH. At current market prices, this amount is valued at approximately $54.37 million.

Notably, following these events the price of $ETH has remained in the green, showing positive activity over the past 24 hours. At the time of writing, the world’s largest altcoin is trading at around $1,979.

Meanwhile, the cryptocurrency portfolio of another Ethereum co-founder, Vitalik Buterin, has also attracted attention. According to blockchain data, the total value of Buterin’s portfolio is approximately $446.5 million.

Most of this portfolio consists of 224,119 $ETH, valued at approximately $443.3 million.

See also: "Expansion of Ripple’s global payments strengthens XRP’s institutional role"

#Ethereum (ETH) #Sell

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