Ethereum Co-Founder Moves $38 Million in ETH to Kraken During Market Rally
Jeffrey Wilcke, one of the co-founders of Ethereum, has transferred over $38 million worth of ETH to the crypto exchange Kraken. This move comes as digital asset markets continue to rise.
On Wednesday morning, Wilcke sent 10,000 ETH worth $27.52 million to Kraken, as reported by blockchain tracking firm Arkham Intelligence. Additionally, he transferred 4,300 ETH worth $10.75 million over the weekend.
While the intentions behind these transfers are unclear, it is possible that Wilcke may sell the ETH on the open market through Kraken.
Wilcke still holds more than 135,738 ETH worth over $371 million at current prices, according to Etherscan data.
Early Ethereum Investor Deposits $87.5 Million Worth of ETH on Kraken After Five Years
A recent report from Lookonchain reveals that an early Ethereum investor deposited 39,260 ETH worth $87.5 million on Kraken after being dormant for over five years.
The investor received 47,260 Ethereum worth $11.34 million between June and August 2017. They sold 8,000 ETH the following year and did not move any tokens thereafter.
If the investor sold their holdings on Kraken now, they would have made a profit of approximately $78 million.
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