Ethereum Co-Founder Jeffrey Wilcke Sells 20.000 ETH

• Jeffrey Wilcke transfers 20.000 ETH to Kraken.
• Founders’ moves influence confidence in the Ethereum market.
• Ethereum liquidity surpasses $70 billion on exchanges.

Ethereum co-founder Jeffrey Wilcke recently moved 20.000 ETH, valued at search of $72,5 million to the Kraken exchange. This transaction came after the price of Ethereum surpassed $3.600, marking yet another significant sale by an early holder of the cryptocurrency. Wilcke, who received an initial allocation of 463.203 ETH at the network’s launch in 2016, has liquidated more than 356.805 ETH over the years.

🚨 Ethereum Co-Founder Sold!

Jeffrey Wilcke deposited 20,000 ETH (~$72.2M) to Kraken today at $3,608/ETH. 😬

His last deposit? May 2024: 10,000 ETH ($37.3M) right before a market dip.

Still holding 106,006 ETH (~$384M). What's his next move? 🤔 #Crypto #Ethereum pic.twitter.com/BsJkmCfssc

— Maartunn (@JA_Maartun) November 28, 2024

Wilcke’s moves are particularly noteworthy, especially after his lull in selling prior to 2021, when he had transferred around 290.505 ETH at an average of $190 per unit. In 2023, the co-founder resumed his selling strategy, moving over 63.000 ETH over the summer, and still maintains a balance of approximately 106.000 ETH in his wallet, valued at around $382 million.

The recent move didn’t have an immediate impact on Ethereum’s price, which is holding above $3.500, but it has reignited debate within the community about the founders’ commitment to the project at critical junctures. Wilcke’s token sale follows a similar pattern to other institutions, such as the Ethereum Foundation, whose historical sales have often been associated with market peaks and subsequent downturns.

Despite the criticism, Ethereum’s current liquidity, estimated at over $70 billion on exchanges, shows that isolated transactions like this are absorbed relatively easily by the market. Over 34,2 million ETH are locked in staking, while whales hold around 65,1 million ETH, including exchange wallets and reserves.

At the time of publishing this article, Ethereum was trading at $3.580,17, down 0.2% in the last 24 hours.

Meanwhile, Ethereum ETFs continue to gain traction, attracting billions of dollars in assets under management and establishing themselves as important vehicles for long-term holders. Still, the movement of large volumes by founders and whales is often seen as a factor that could influence investor confidence.