Sudden shift in Ethereum price surge as co-founder transfers 9,840 ETH unexpectedly
In the dynamic world of cryptocurrency, the actions of large-scale investors, known as whales, can significantly impact the market. Over the past few days, whales have been actively shaping the Ethereum market, with their activities reflecting both profit-taking and accumulation behaviors.
Recently, a whale wallet identified as 0xF436 withdrew a substantial amount of 17,655 ETH, equivalent to $72.7 million, from exchanges in the past 18 hours. This move, while potentially indicative of profit-taking, could also be a sign of strategic repositioning, as the whale might be looking to hold onto their Ethereum amidst the current rally.
Jeffrey Wilcke, one of Ethereum's co-founders, has also been active in the market. He transferred 9,840 ETH (worth $9.22 million) to Kraken during the rally. Despite this transaction, Wilcke still holds a significant amount of Ethereum, with approximately 95,897 ETH, valued at around $401.6 million. The timing of Wilcke's latest sale aligns with renewed momentum following Ethereum's breakout above $4,000.
Other whales are not only taking profits but also increasing their positions during this rally. For instance, Erik Voorhees, a well-known figure in the crypto space, sold 6,581 ETH, valued at $27.38 million, earlier today when the Ethereum price reached $4,161. However, Voorhees' last major transaction occurred on December 6, 2024, when he sold 7,807 ETH for $31.27 million at $4,005. After today's sale, Voorhees still holds 556.68 ETH, valued at $2.33 million.
Meanwhile, another wallet, 0x3684, spent 34 million USDT to acquire 8,109 ETH at $4,193 each. This transaction suggests a bullish sentiment and accumulation of Ethereum at current prices.
Arthur Hayes, the founder of BitMEX, has also been active in the market. He sold 2,373 ETH last week and repurchased using 10.5 million USDC at a higher Ethereum price. Just four hours ago, Hayes transferred 10.5 million USDC to repurchase ETH at higher levels.
The latest Ethereum rally has intensified trading activity and reinforced demand among both institutional and retail participants. Sustained buying pressure could push the Ethereum price toward higher resistance levels if momentum continues. However, the mix of ongoing accumulation and significant profit-taking and liquidation raises caution about liquidity risks and price instability.
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- In the recent cryptocurrency trading, Jeffrey Wilcke, a co-founder of Ethereum, sold a portion of his Ethereum holdings and invested some of the proceeds into Bitcoin, demonstrating his continued interest in the broader field of finance and investing.
- The BSE (Bombay Stock Exchange) recently announced a collaborative effort with a decentralized finance (DeFi) platform to introduce a trading system for crypto assets, indicating a potential future expansion of the finance sector and investing opportunities to traditional stock market participants.
