🔥🔥🔥 #Ethereum Co-Founder Transfers $38,270,000 in $ETH to Kraken As #CryptoMarkets Rally
One of Ethereum's co-founders has recently transferred over $38 million worth of ETH to the #cryptocurrency exchange Kraken amid a surge in digital asset markets.
The blockchain tracking firm Arkham Intelligence first observed Jeffrey Wilcke, one of Ethereum's original founders, sending 10,000 ETH valued at $27.52 million to Kraken early on Wednesday morning.
Additionally, over the weekend, Wilcke transferred 4,300 ETH worth $10.75 million to Kraken.
While the purpose behind Wilcke's ETH transfers remains unclear, it is possible that they are intended for sale on the open market through Kraken.
According to data from Etherscan, Wilcke still holds more than 135,738 ETH valued at over $371 million at current prices.
At the time of writing, Ethereum is trading at $2,738, coinciding with Wilcke's ETH transfer to Kraken at its two-year highs.
Recently, data from crypto tracker Lookonchain revealed that an early Ethereum investor deposited 39,260 ETH worth $87.5 million to #Kraken after being dormant for over five years.
This whale had received 47,260 Ethereum worth $11.34 million (at a price of approximately $240 per ETH) between June and August 2017. After selling 8,000 ETH the following year, no further tokens were moved until now.
If the whale sold its holdings on Kraken, it would have generated a profit of roughly $78 million, according to Lookonchain.
Source - dailyhodl.com
