Ethereum co-founder Jeffrey Wilcke appears to be considering a sale of some of his Ether holdings after transferring approximately 1,500 ETH to the crypto exchange Kraken on Thursday.
Wilcke sent 1,500 Ether (ETH), valued at around $6 million, to the exchange, as reported by onchain analytics platform Lookonchain. This occurred as the price of Ether declined from $4,000 to about $3,900.
However, transferring cryptocurrency to an exchange address does not necessarily indicate a sale.
In August, Wilcke had deposited $9.22 million worth of ETH to Kraken. He has previously moved $262 million worth of ETH to Kraken. At that time, Lookonchain speculated that he likely withdrew the same sum into eight new wallets, rather than for sale.
Nevertheless, Wilcke has since reshared a comment on X speculating that “he will sell more in the future.”
Cointelegraph attempted to contact Wilcke for comments, but did not receive a response by publication time.
In addition to being a co-founder, Wilcke was actively involved in Ethereum’s early development from December 2013 to March 2018. He later established Grid Games, a video game studio, in January 2018, where he currently serves as CEO and technical director.
Ether whales are accumulating ETH aggressively
Wilcke’s recent fund transfers seem minor compared to the recent buying spree of Ether whales.
Despite the ongoing market downturn that has seen ETH’s price drop 13% over the past week, whales appear to be seizing the opportunity to acquire ETH at these lower prices.
Related: Last chance for Ethereum? ETH price pattern breaks down as $4K must hold
At least 15 wallets have purchased more than 406,000 ETH, amounting to $1.6 billion, within the last two days, according to Lookonchain.
These wallets have acquired ETH from the crypto exchange Kraken, digital infrastructure provider Galaxy Digital, digital asset services provider BitGo, and digital asset broker FalconX.
Earlier this month, a whale was observed selling billions of dollars worth of Bitcoin in exchange for Ethereum, accumulating over $4 billion in ETH holdings.
Last month, whales purchased over 260,000 ETH, totaling $1.14 billion, between August 24 and August 26.
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