Ethereum Co-Founder Jeffrey Wilcke Transfers 105,737 ETH to Kraken, Raising Liquidation Speculations

May 20th, 2023 – In a significant move for the cryptocurrency market, on-chain analyst Wu Jian has reported that Ethereum co-founder Jeffrey Wilcke has transferred the remaining 105,737 ETH worth approximately $262.07 million to the cryptocurrency exchange Kraken. This transaction raises eyebrows as it is perceived to be part of a liquidation process. Since 2016, Wilcke has reportedly moved a substantial 394,000 ETH to Kraken for various sales, averaging a price of $1,295. His total cash-out reflects a staggering accumulation of about $510 million.

This latest transaction underscores a potential shift in liquidity within the Ethereum ecosystem. Market analysts suggest that such high-volume transfers can influence market sentiment and price dynamics. As cryptocurrency continues to gain traction among institutional investors, monitoring these movements becomes crucial for stakeholders in the market.