Key Highlights
Ethereum co-founder Jeffrey Wilcke has reportedly sold 79,258.61 ETH, worth approximately $157 million today, after his wallet had been inactive for seven months.
According to analysts, the transfer was made to the cryptocurrency exchange Kraken through four addresses, and his wallets will hold 27,421.73 ETH, valued around $54.37 million. Transfers as large as there are often noticed as they often signal a potential sell-off.
Moreover, this isn’t his first time making such a withdrawal. Previously, in August 2025, Wilcke moved 9,840.36 ETH, worth about $41.33 million, to Kraken.
Ethereum co-founder Jeffrey Wilcke has reportedly sold 79,258.61 ETH, worth approximately $157 million today, after his wallet had been inactive for seven months.
According to analysts, the transfer was made to the cryptocurrency exchange Kraken through four addresses, and his wallets will hold 27,421.73 ETH, valued around $54.37 million. Transfers as large as there are often noticed as they often signal a potential sell-off.
Moreover, this isn’t his first time making such a withdrawal. Previously, in August 2025, Wilcke moved 9,840.36 ETH, worth about $41.33 million, to Kraken.
In May 2025, he deposited 105,737 ETH, valued at $262 million, into Kraken and then distributed it to eight new addresses. Observers noted that all eight addresses received a 1 ETH test transaction before the full amount was transferred.
“It is possible that Jeffrey Wilcke simply wanted to distribute some of his ETH holdings into new wallet addresses, possibly for security purposes,” Arkham reported. These moves make it unclear whether the deposits are meant for immediate selling or just wallet management.
He has been sending Ethereum to Kraken since 2026. So far, he has moved about 394,000 ETH to the platform, selling at an average price of $1,295 per ETH, which results in around $510 million in total cash-outs.
Although he left Ethereum in 2019 to start a gaining company, his on-chain activities still continue to influence the market because of the size of his holdings.
Meanwhile, Ethereum itself has been facing a lot of pressure lately. At the time of writing, ETH is trading for $1970, after dropping by a modest $0.24% in the last 24 hours, which isis below its weekly high of $2180.
This drop is influenced by the global event in the Middle East, which has pushed oil prices higher and affected the price of major cryptocurrencies. At the same time, ETH Spot ETF saw an outflow of about $82 million on March 6, according data from Sosovlaue, which adds to the pressure.
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