A wallet linked to Ethereum co-founder Jeffrey Wilcke transferred 79,358 ETH worth approximately $157 million to the Kraken exchange on Saturday, as first reported by on-chain analyst @ai_9684xtpa.
The move came eight months after Wilcke allegedly transferred $41 million worth of ETH, with data tracked by Lookonchain showing he held 95,897 ETH at the time.
Wilcke joined the Ethereum team in late 2013 and built a reputation for creating Geth, the most widely used client for running Ethereum nodes.
The software developer helped maintain the network’s core infrastructure until its retirement around 2018. It then moved into gaming with the launch of Grid Games.
Wilcke received an estimated allocation of 463,000 ETH as one of the original co-founders of Ethereum. The investor has been offloading some of his ETH stash intermittently over the past few years.
Ethereum is hovering around $1,900 at the time of reporting, up 4% over the past seven days, according to CoinGecko.
The second-largest digital asset is down about 60% from its record high of around $4,900 set last August.
Crypto assets like Ethereum have historically shown themselves to be sensitive to the behavior of large holders. Transactions by well-known figures often trigger stronger market reactions than movements by anonymous whales.
