As first reported by on-chain analyst @ai_9684xtpa, a wallet linked to Ethereum co-founder Jeffrey Wilke transferred 79,358 ETH worth approximately $157 million to the Kraken exchange on Saturday.
The move comes eight months after Wilke reportedly moved $41 million worth of ETH, with data tracked by Lookonchain showing that he held 95,897 ETH at the time.
Wilcke joined the Ethereum team in late 2013 and gained recognition for creating Geth, the most widely used client for running Ethereum nodes.
The software developer helped maintain the network’s core infrastructure until its exit around 2018. He then moved into the gaming industry with the launch of Grid Games.
Wilke received an estimated allocation of 463,000 ETH as one of Ethereum’s early co-founders. The investor has offloaded portions of his ETH stash intermittently over the past few years.
According to CoinGecko, Ethereum was hovering around $1,900 at the time of reporting, up 4% over the past seven days.
The second-largest digital asset is down about 60% from its all-time high of about $4,900 in August last year.
Cryptoassets like Ethereum have historically shown to be sensitive to the actions of large holders. Trades by well-known figures often provoke stronger market reactions than moves by anonymous whales.
