Ethereum co-founder shifts $6M of ETH, but whales bought $1.6B

Ethereum co-founder Jeffrey Wilcke could beryllium looking to merchantability immoderate of his Ether holdings aft sending astir 1,500 ETH to crypto speech Kraken connected Thursday. 

Wilcke sent 1,500 Ether (ETH), worthy astir $6 million, to the crypto exchange, according to onchain analytics level Lookonchain. It came arsenic the terms of Ether dropped from $4,000 to astir $3,900.

Source: Lookonchain

Moving cryptocurrency to an speech deposit code does not warrant it is being sold. 

In August, Wilcke had deposited $9.22 cardinal worthy of ETH to Kraken. He had antecedently sent $262 cardinal worthy of ETH to Kraken. At the time, Lookonchain speculated that helium apt withdrew the aforesaid magnitude to 8 recently created wallets, alternatively than for sale. 

However, Wilke has since reposted a user’s remark connected X that speculated “he volition merchantability much successful the future.”

Source: Jeffrey Wilcke

Cointelegraph reached retired to Wilcke for comment, but did not perceive backmost by the clip of publication.

Apart from being a co-founder, Wilcke played an progressive relation successful Ethereum’s aboriginal improvement from December 2013 to March 2018. He aboriginal founded Grid Games, a video crippled studio, successful January 2018, and presently serves arsenic the CEO and method director.

Ether whales are scooping up ETH by the bucketload

Wilcke’s caller money movements airy compared to caller Ether whale buying anyway. 

Despite the ongoing marketplace downturn, which has seen the terms of ETH tumble 13% successful the past 7 days, whales are seemingly utilizing this accidental to scoop up ETH astatine a little terms point.

Related: Last accidental for Ethereum? ETH terms signifier breaks down arsenic $4K indispensable hold 

At slightest 15 wallets person bought much than 406,000 ETH, worthy $1.6 billion, successful the past 2 days, according to Lookonchain.

The wallets person bought ETH from crypto speech Kraken, integer infrastructure supplier Galaxy Digital, integer plus services supplier BitGo, and integer plus broker FalconX.

Earlier this month, a whale was spotted selling billions of dollars worthy of Bitcoin successful lieu of Ethereum, with the whale’s ETH holding exceeding $4 billion.

Last month, whales bought much than 260,000 ETH, worthy $1.14 billion betwixt Aug. 24 and Aug. 26.

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