n ETH holder and co-founder of Ethereum, Jeffrey Wilcke, made a transaction of 20,000 ETH worth more than $72 million to Kraken on November, 28th. This is the fourth significant transfer to the platform in 2024 where total transfer amounts to $147m.
Historical Context
Earlier cross-transfers took place on February 10 (4,300 ETH), February 14 (10,000 ETH), and May 22 (10,000 ETH). More to the point, Wilcke is left with 106,006 ETH in his wallet after this last transaction.
Community Concerns
It comes after the Ethereum Foundation and other co-founders have done similar things that have attracted the attention of the community. Buterin had in the past described such transfers as funding ecosystem projects and charitable causes.
Market Performance
According to this simulation, Ethereum has been comparatively less performing compared to Bitcoin and Solana during 2024 by gaining 51.5% which is below the average of an overall crypto market than 109%. This context increases the awareness of investors to large movements of ETH by the founding members.
Potential Implications
As for the sources of such a substantial transfer, the motivation still remains unknown, although they attract market activity and can cause short-term fluctuations in the price of cryptocurrencies in the market.
Investor Perspective
The transfer also highlights that due to market concerns and emerging questions about the transparency of transactions related to cryptocurrency founders, this is a continuous issue
