Summary: Ethereum co-founder Jeffrey Wilcke sold 20,000 ETH, worth $72.5M, on Kraken as ETH hit $3,600. While ETH’s rally shows signs of cooling, Wilcke’s moves have sparked speculation about market trends.
Wilcke’s ETH Sell-Off
Jeffrey Wilcke, one of Ethereum’s OGs, just offloaded 20,000 ETH to Kraken, bagging $72.5 million. This isn’t the first time he’s done this type of risky move, this is the fourth time he has made such a gigantic move in 2024 alone, with total sales of 44,300 ETH valued at $148 million. Despite cashing out, he’s still holding strong with 106,000 ETH, worth $382 million, proving he’s not entirely out of the game.
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ETH’s Rollercoaster Ride
Ethereum flirted with the $3,700 mark earlier today but couldn’t keep the momentum, pulling back to $3,566—a modest 1% gain in 24 hours. Analysts are keeping a close eye, wondering if the whale activity is signaling a market cooldown or gearing up for another pump.
What’s the Vibe?
This complete sell-off by Wilcke’s has made every crypto enthusiasts talking. Some people think this move is just done for small time and early profit while others strongly believe this to be a signal and a warning signal for others to brace for market volatility. This doesn’t finalize anything as anything is absolutely possible in crypto space.
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