Ethereum Co-Founder Sends $157 Million ETH to Kraken, Sparking Insider-Selling Fears

Ethereum co-founder Jeffrey Wilcke transferred 79,258 ETH (worth nearly $157 million) to the Kraken exchange on March 7. Typically, asset transfers of this magnitude to an exchange are interpreted by the market as a clear signal to liquidate. Insider Sales Add Downward Pressure as ETH Fights for $2,000 Support Interestingly, analysts at blockchain analytical firm SpotOnChain noted a distinct “round-trip” pattern in the transactions. According to them, these same wallets withdrew the exact amount of ETH from Kraken roughly 10 months ago, aligning with activity from one of Wilcke’s known primary wallets source: https://beincrypto.com/ethereum-co-founder-moves-157-million-to-kraken/