Ethereum founder moves millions, while Whales struck $ 1.6 billion

Ethereum-CO-Founder (ETH) Jeffrey Wilcke has again sent a large amount of Ethereum to an exchange. The step raises questions whether he is busy reducing his property slowly, or whether it is only a shift. In the meantime, analysts point out that Whales are buying firmly.

Co-founder again sends millions in ETH to Beurs

According to Blockchain analysis platform Lookonchain, Wilcke transferred 1,500 ETH this week, worth around 6 million dollars to Kraken. The transaction coincided with a fall fall from ETH from around $ 4,500 to $ 3,890.

It is not the first time that the founder of Ethereum sets his possession. In August he sent more than 9 million dollars from ETH to Kraken. Earlier he had even moved 262 million dollars, whereby he would probably return the amount to new wallets later. Yet Wilcke recently reposted a message on X in which it was suggested that he “will sell more in the future.”

Wilcke played an active role in the development of Ethereum between 2013 and 2018 and then founded Grid Games. Nowadays he is CEO and technical director there.

Whales buy more than 400,000 ETH in two days

Nevertheless, his movements fall in the not with some large investors in recent days. At least fifteen wallets have jointly bought more than 406,000 ETH, good for 1.6 billion dollars.

Those purchases went through Kraken, Galaxy Digital, Bitgo and Broker Falconx. Despite a fall in price of 15 percent in the past week, Whales see the dip as a chance of buying. At the beginning of September, a major player even exchanged billions of Bitcoin for Ether, which rose his ETH stock above $ 4 billion.

The question remains whether Wilcke’s transactions are a signal that insiders lose their confidence, or whether the massive purchases of Whales show that the sentiment around Ethereum remains strong. It is clear that large players use the current dip.