Ethereum has been on an upward trajectory over the past week, surpassing the $2,600 mark with a notable 7% gain, indicating a strong positive momentum in the market.

However, today, the token experienced a slight dip in value, seeing a nearly 2% decline and currently trading at $2485.

Spotonchain data reveals an intriguing development involving Ethereum co-founder Jeffrey Wilcke (@jeffehh), who recently deposited 4,300 $ETH ($10.7M) into Kraken at a price of $2,482 per ETH.

#Ethereum co-founder Jeffrey Wilcke (@jeffehh) deposited 4,300 $ETH ($10.7M) to #Kraken at $2,482 ~14hrs ago.

Notably, he last deposited 22K $ETH to #Kraken at $1,870 ($41.1M) in Jun 2023, just before the market crashed.

Currently, Jeffrey Wilcke still holds 146K $ETH ($362M).… https://t.co/XiEqNiEOop pic.twitter.com/wSYcn5bI72

— Spot On Chain (@spotonchain) February 11, 2024

This transaction has stirred considerable interest within the cryptocurrency community, given Wilcke’s significant role in the creation and advancement of Ethereum. Notably, in June 2023, just before a market crash, Wilcke deposited 22K $ETH to Kraken at $1,870 ($41.1M).

Wilcke’s Total Ethereum Holdings Now At 146K $ETH

The recent deposit brings Wilcke’s total Ethereum holdings to 146K $ETH ($362M), underscoring his substantial stake in the cryptocurrency.

The community’s response to Wilcke’s transaction has been varied, with discussions ranging from speculative humor to critical analysis and concern regarding market implications.

Despite the recent dip in Ethereum’s value, it remains in close proximity to the $2,500 mark, reflecting ongoing market stability amidst fluctuations.

As Ethereum continues to evolve and adapt to changing market dynamics, developments such as Wilcke’s deposit serve as notable markers in the cryptocurrency landscape, prompting further examination and discussion within the community.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Filed under: Bitcoin - @ February 13, 2024 4:19 am