Ethereum Cofounder Sends 20,000 ETH to Kraken, Chart Suggests Price Surge

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As an analyst with extensive experience in the cryptocurrency market, I find myself both intrigued and cautious regarding the recent transactions by Ethereum cofounders Jeffrey Wilcke and Vitalik Buterin. The data suggests a potential upward trend for Ethereum, yet the significant sell-offs by these key figures raise some eyebrows.

The Spotonchain analytics account has detected an unusually large Ethereum transaction carried out by one of Ethereum’s founders. Interestingly, available data indicates a potential increase in the price of Ethereum.

Currently, a significant number of Ethereum (ETH) owners are experiencing their highest profitability levels in six months, as indicated by a recent report from IntoTheBlock. Specifically, about 90.8% of ETH holders have attained this peak profitability since June.

Ethereum cofounder dumps $72.5 million in ETH

Just now, programmer Jeffrey Wilcke – one of the early Ethereum founders – moved a significant amount of 20,000 ETH (equivalent to approximately $72.5 million) to the American cryptocurrency exchange, Kraken. This information was recently disclosed by Spot On Chain.

In the past day, the ETH price experienced a significant recovery, increasing approximately 8%. After peaking at $3,688, it momentarily retreated by about 2.07%, now being traded at around $3,615.

30 minutes ago, Jeffrey Wilcke, co-founder of Ethereum, moved 20,000 ETH (worth approximately $72.5 million) to Kraken, coinciding with a robust recovery in the value of ETH today!

— Spot On Chain (@spotonchain) November 28, 2024

As I’ve analyzed, it appears that Wilcke has offloaded Ethereum four times this year. To date, he’s disposed of approximately 44,300 ETH, which amounts to a staggering $148 million. On average, he seems to have sold each coin at around $3,342.

As a crypto investor, I’ve noticed an interesting pattern this year: whenever Vitalik Buterin, Ethereum’s co-founder, has sold his ETH, the price of Ethereum has significantly surged afterward. This trend holds true for every sale he made this year, including the recent one. It seems like selling ETH by its creator may not always be a bearish sign!

Vitalik Buterin cashes out big ETH chunk

According to U.Today’s report, this week saw another Ethereum co-founder, Vitalik Buterin, moving approximately 340 ETH, which equates to about $1,094,088. The recipient of this transfer was a nonprofit organization called Coin Center, known for its work on cryptocurrency policy matters.

Instead of keeping the meme coins donated by new cryptocurrency creators, Buterin converts them into Ethereum (ETH) for use in making significant contributions to other potential crypto projects that he finds promising. These contributions can also serve as part of promotional campaigns.

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2024-11-28 17:15