Ethereum co-founder moves $72 million in ETH to Kraken

Ethereum (ETH) co-founder Jeffrey Wilcke transferred 20,000 ETH, equivalent to implicit $72 million, to Kraken connected Nov. 28.

His wallet inactive holds 106,006 ETH.

CryptoQuant’s assemblage expert Maartunn highlighted that this is the 4th clip Wilcke has transferred ETH to Kraken this year, surpassing $147 million. He archetypal moved 4,300 ETH to the speech connected Feb. 10, worthy $10.6 million.

Wilcke moved 10,000 ETH to Kraken 4 days later, worthy $27.2 million. His 3rd deposit of 10,000 ETH, equivalent to $37 million, occurred connected May 22.

Community scrutiny

The Ethereum Foundation (EF) and Ethereum co-founders person been nether assemblage scrutiny this year. 

On Aug. 23, the EF moved 35,000 ETH to Kraken, which sparked concerns from the assemblage fixed the precocious worth of the transaction — worthy $94 cardinal astatine the clip of the transfer. 

EF contributor Josh Spark and Ethereum co-founder Vitalik Buterin clarified the crushed down the transfer, explaining that it was to foster institutions that boost Ethereum’s ecosystem.

According to the on-chain information level Arkham, the EF-related addresses saw nearly 45,000 ETH successful antagonistic nett flows successful 2024. 

One week later, Buterin had to explain a deposit successful ETH equivalent to $10 million, citing that helium had ne'er realized profits for self-gain since 2018. He added:

“All income person been to enactment assorted projects that I deliberation are valuable, either wrong the ethereum ecosystem oregon broader foundation (eg. biomedical R&D).”

As of Nov. 28, Buterin-related wallets registry a year-to-date antagonistic nett travel of 6,000 ETH.

ETH investors are particularly disquieted by these transfers, fixed the crypto’s underperformance this twelvemonth compared to Bitcoin (BTC) and Solana (SOL).

According to data from Artemis, Bitcoin and Solana person recorded adjacent to 116% yearly returns successful 2024, portion ETH is up 51.5% truthful far, good beneath the crypto market’s mean instrumentality of 109%.

The station Ethereum co-founder moves $72 cardinal successful ETH to Kraken appeared archetypal connected CryptoSlate.