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Cryptocurrency News Articles
Ethereum Co-Founder Jeffrey Wilcke Shifts 10,000 ETH Tokens to Kraken
May 23, 2024 at 04:34 pm
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
Ethereum co-founder Jeffrey Wilke has shifted a large amount of ETH tokens, up to the tune of 10,000, to the popular cryptocurrency exchange Kraken a few hours ago. This transaction is valued at $37.38 million, with each token being purchased at an average price of $3,738.
According to Spot on Chain, a blockchain insight platform, this transaction was picked up by blockchain sleuths. As it turns out, Wilke has deposited a total of 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 transaction, 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 Wilke 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.
The price of ETH 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, indicating a 1.36% increase in the last 24 hours. Moreover, 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 decreased by 24.7%, reaching $24.7 billion, while the live market cap is at $456.6 billion.
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