Ethereum Co-Founder Jeffrey Wilck Transfers Large Amount of ETH to Exchanges

Experts who are behind Ethereum’s cofounder Jeffrey Wilcke’ and his wallet activity have seen analysts monitoring on-chain data as an important indication of a potential sell-off.

According to on-chain data, Wilcke transferred approximately 79,258.61 $ETH, which is worth approximately $157 million at current prices.

Analysis suggest that the address allegedly linked to Wilcke returned after about 7 months of inactivity, which was considered active again. This address was noted to have sent a large amount of $ETH to the Kraken cryptocurrency exchange via four different addresses within ‘a few minutes’.

Wilcke still has 27,421 in his main wallet according to on-chain data. Transfers 73 $ETH after the transfers to , who has since been transferred. The value of this amount is estimated to be around $54 at current market prices, according to . paraphrasing 37 million,.

The $ETH price is notably in the green zone after this development, having been active for the past 24 hours. At the time of writing, $1,979 is trading as the world’s largest altcoin at this stage of its trade.

However, the crypto portfolio of Ethereum’s co-founder Vitalik Buterin is also noteworthy. On-chain data show Buterin’s portfolio value is around $446. 5 million, – 5mn. Almost all of this portfolio is made up of 224,119 $ETH valued at around $443. 3 million – .

*This is not investment advice.

Thanks for reading Ethereum Co-Founder Jeffrey Wilck Transfers Large Amount of ETH to Exchanges