According to on-chain analysis platform Lookonchain, Ethereum co-founder Jeffrey Wilcke transferred approximately 1,500 Ethereum to the cryptocurrency exchange Kraken on Thursday, possibly intending to sell part of his holdings.
It is reported that Wilcke transferred 1,500 Ethereum, worth about $6 million, to the exchange, during which the price of Ethereum dropped from $4,000 to around $3,900.
It should be noted that transferring cryptocurrency to an exchange's deposit address does not necessarily mean that the holder will sell immediately.
In August of this year, Wilcke deposited Ethereum worth $9.22 million to Kraken. Previously, he had transferred Ethereum worth $262 million to Kraken. At that time, Lookonchain speculated that he might be transferring equivalent funds to eight newly created wallets rather than for sale.
However, Wilcke recently retweeted a comment from a user on the X platform, which speculated that "he will continue to sell in the future."
Cointelegraph reached out to Wilcke for comment, but had not received a response by the time of publication.
In addition to being a co-founder, Wilcke was actively involved in the early development of Ethereum from December 2013 to March 2018. In January 2018, he founded the video game studio Grid Games, where he currently serves as CEO and CTO.
In addition to being a co-founder, Wilcke was actively involved in the early development of Ethereum from December 2013 to March 2018. In January 2018, he founded the video game studio Grid Games, where he currently serves as CEO and CTO.
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Original article: “Ethereum Co-Founder Sells $6M ETH, Contradicting $1.6B Whale Purchases”
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