Ethereum Co-Founder Moves $262M in ETH to Kraken—Is a Sell-Off Coming?

🚨 **Ethereum Co-Founder Moves $262M in ETH to Kraken—Is a Sell-Off Coming?** 🚨

Ethereum’s price has been on a tear, surging over 60% in recent weeks to hit $2,673. But just as the rally gained steam, Ethereum co-founder **Jeffrey Wilcke** made a jaw-dropping move—transferring **105,000 ETH ($262 million)** to **Kraken** in a single transaction!

🔍 **Why This Matters:**
- The wallet had been **inactive for months**, making the timing suspicious—right after ETH crossed $2,600.
- Wilcke’s last big transfer in **November 2024** preceded a price correction—could history repeat?
- Initially, fears of a **massive sell-off** spooked the market, but then **eight new wallets withdrew the same amount** from Kraken. Was this just a fund **redistribution**, not a dump?

📈 **Market Impact:**
Despite the whale move, **ETH’s price held strong**, rising 2.24% to ~$2,607. Even better—Ethereum’s **exchange supply hit a 10-year low (4.9%)**, signaling long-term bullish sentiment.

⚠️ **But Watch Out:**
- A potential **bug in the EIP-7702 upgrade** could slow Ethereum’s momentum.
- Will Wilcke break his silence? His **repost of the news** without explanation keeps traders guessing.

💡 **Key Takeaways:**
✅ **Not necessarily a sell-off**—funds may have been moved, not sold.
✅ **Exchange supply drying up** = fewer sellers, more hodlers.
✅ **ETH resilience**—price held despite whale activity.

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#Ethereum #ETH #CryptoNews #WhaleAlert #Kraken #JeffreyWilcke #CryptoTrading

*(Sources: Arkham, Santiment, on-chain data)*

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