Ethereum co-founder Jeffrey Wilcke transferred $262M in ETH to Kraken on May 20. Learn what this massive move means for ETH price
Author: Chirag Sharma
Ethereum co-founder Jeffrey Wilcke has made headlines once again after transferring 105,736 ETH. The are valued at approximately $262 millionand were transferred to Kraken on May 20, 2025
The transaction was first flagged by blockchain analytics firm Arkham Intelligence and widely reported by the crypto community. This move has reignited debate across the crypto community regarding Wilcke’s motivations. It also questions the potential ripple effect on the Ethereum market.
Jeffrey Wilcke , a key figure in Ethereum’s founding team, has previously liquidated substantial ETH holdings. In 2024 alone, he reportedly sold 44,300 ETH worth $148 million. One significant transfer of 20,000 ETH ($72.5 million) in November 2024. Check more on Arkham Intelligence
Wilcke still held 106,000 ETH valued at $384 million prior to this week’s transfer, . It is suggesting this latest move may have emptied most or all of his long-standing holdings.
Notably, Wilcke also sold 92,000 ETH in 2019 to fund his gaming startup, Grid Games. This lends credibility to theories suggesting the current sale might be tied to personal investments or portfolio diversification, rather than a bearish stance on Ethereum itself.
The market response has been mixed. While some view the transaction as a sign of an incoming price correction, others cite historical trends showing that often rallied following Jeffrey Wilcke past sales.
ETH last surged to $3,600 in November 2024, and while fears of a dump loom large, data from Spot On Chain suggests that Wilcke’s past liquidations didn’t crash the market. Instead, they were often followed by bullish momentum.
Still, analysts urge caution. Large movements by influential figures like Wilcke often shift short-term sentiment. It is the case even if the fundamentals remain strong.
With Ethereum continuing to ride a wave of altcoin enthusiasm and DeFi expansion, many are watching for follow-up activity on-chain or from Wilcke himself.
Will this be remembered as a routine portfolio shift, or is it a precursor to a broader market move?
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