Ethereum Co-Founder Transfers 10k ETH to Kraken Amid Price Rally
Jeffrey Wilke, the co-founder of Ethereum has been spotted depositing large amounts of ETH tokens, up to the tune of 10,000, to the popular cryptocurrency exchange Kraken a few hours ago. Wilke who is the creator of Ethereum is reportedly enjoying significant ROI on his ETH investments according to his portfolio chart.
The price of ETH has witnessed impressive growth within the last week. Against the backdrop of the global crypto market rally, Ethereum has gained over 25% in the last seven days according to CoinMarketCap data. One of the reasons fueling this movement is the excitement behind a possible approval of a spot ETF for Ethereum by the regulatory watchdog, the SEC.
Jefferey Wilke Shifts 10,000 ETH Tokens to Kraken
According to data provided by Spot on Chain, a blockchain insight platform, Jefferey Wilke has transferred a massive 10,000 Ethereum tokens to the aforementioned centralized exchange. The transaction which was done about 2 hours ago from the time of writing, is worth $37.38 million. During this time, each token was purchased at an average amount of 3,738.
Furthermore, Spot on Chain noted that Wilke has deposited about 24,300 ETH tokens to Kraken since the beginning of this year. These deposits were made in three separate transactions within 5 months. The first one which was made in February 2024, shifted 4,300 ETH tokens (valued at $16.149 million) to the exchange. In the same month, the second transaction moved 10k ETH tokens (worth $37.556 million) to the Kraken exchange.
The total value of these three transactions is valued at $75.52 million with an average price of $3,108 per coin. Notably, the most recent transaction happened just before the price of ETH started to surge. At the time of writing, Jeffrey Wilcke still holds up to 126K ETH (worth $473 million).
Meanwhile, a close look at his portfolio chart shows that Wilke has enjoyed significant returns on his investments since his first two transactions in 2024. It can be seen that those deposits were made before the price of ETH surged toward the $4k level this year.
ETH Price Movements
The ETH price has rallied notably since the beginning of May, gaining about 20.01%. According to data from CoinMarketCap, Ethereum (ETH) is currently trading at $3,802, representing a 1.36% increase in the last 24 hours. What is more, ETH has traded between the highs and lows of $3,664.13 and $3,822.60 within the last day. However, the volume traded in the last 24 hours has witnessed a drop of 24.7% to $24.7 billion with a live market cap of $456.6 billion.
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