Ethereum Co-Founder Sends 10k ETH to Kraken Exchange During Price Surge
Jeffrey Wilke, one of the co-founders of Ethereum and the creator of the cryptocurrency, has recently been observed depositing a substantial amount of ETH tokens, totaling 10,000, into the popular cryptocurrency exchange Kraken. This move comes as Wilke reportedly enjoys significant returns on his Ethereum investments, as indicated by his portfolio chart.
In the past week, the price of ETH has experienced impressive growth. CoinMarketCap data reveals that Ethereum has gained over 25% in value within the last seven days, coinciding with a global crypto market rally. One of the factors contributing to this upward movement is the anticipation surrounding the potential approval of a spot ETF for Ethereum by the Securities and Exchange Commission (SEC), a regulatory watchdog.
According to data provided by Spot on Chain, a blockchain insight platform, Wilke recently transferred a substantial 10,000 Ethereum tokens to Kraken. This transaction, which occurred approximately two hours ago at the time of writing, is valued at $37.38 million. Each token was purchased at an average price of $3,738.
Spot on Chain also revealed that Wilke has deposited a total of 24,300 ETH tokens into Kraken since the beginning of this year. These deposits were made through three separate transactions over a span of five months. The first transaction took place in February 2024, transferring 4,300 ETH tokens (worth $16.149 million) to the exchange. In the same month, the second transaction involved the movement of 10,000 ETH tokens (worth $37.556 million) to Kraken.
The combined value of these three transactions amounts to $75.52 million, with an average price of $3,108 per coin. Notably, the most recent transaction occurred just before the surge in the price of ETH. As of now, Jeffrey Wilke still holds a significant amount of 126,000 ETH, which is valued at $473 million.
Upon examining Wilke’s portfolio chart, it becomes evident that he has enjoyed substantial returns on his investments since his first two transactions in 2024. It is worth noting that these deposits were made prior to the significant increase in the price of ETH, which reached the $4,000 level this year.
The price of ETH has seen a notable rally since the start of May, experiencing a gain of approximately 20.01%. CoinMarketCap data indicates that Ethereum is currently trading at $3,802, representing a 1.36% increase in the last 24 hours. Within the past day, ETH has fluctuated between a high of $3,664.13 and a low of $3,822.60. However, the trading volume in the last 24 hours has decreased by 24.7% to $24.7 billion, with a live market cap of $456.6 billion.
