Ethereum’s on-chain activity has drawn significant attention as blockchain data reveals contrasting movements among major holders. Jeffrey Wilcke, co-founder of Ethereum, executed a transfer of 2,000 ETH valued at approximately $6 million to the Kraken exchange. This transaction, originating from a wallet associated with Wilcke, represents one of his first major movements in over three years.
Despite this transfer, analysis indicates Wilcke maintains substantial Ethereum holdings. Blockchain records show related wallets contain hundreds of thousands of ETH, with an estimated total value exceeding $100 million. These assets appear to be distributed across multiple addresses, suggesting a long-term holding strategy remains largely intact.
Simultaneously, large-scale investors have demonstrated strong accumulation patterns. Major Ethereum whales have purchased over $1.6 billion worth of ETH during recent market movements, according to analytics platform Santiment. This substantial buying activity from addresses holding between 10,000 and 1 million ETH indicates strong institutional confidence despite price volatility.
The contrasting activities highlight the diverse strategies within the Ethereum ecosystem. While co-founders may periodically rebalance portfolios, institutional and whale accumulation suggests maintained bullish sentiment toward Ethereum’s long-term value proposition. Market analysts note that such significant whale accumulation often precedes price appreciation, though market conditions remain influenced by broader macroeconomic factors.
