Ethereum (ETH) co-founder Jeffrey Wilke transferred 20,000 ETH, worth more than $72 million, to Kraken on November 28th.
He still has 106,006 ETH in his wallet.
Maartunn, a community analyst at CryptoQuant, highlighted that this is the fourth time Wilke has transferred ETH to Kraken this year, amounting to more than $147 million. He first moved 4,300 ETH (worth $10.6 million) to the exchange on February 10th.
Four days later, Wilke transferred 10,000 ETH worth $27.2 million to Kraken. His third deposit of 10,000 ETH (worth $37 million) was made on May 22nd.
Community monitoring
The Ethereum Foundation (EF) and Ethereum's co-founders have come under community scrutiny this year.
On August 23rd, EF moved 35,000 ETH to Kraken. caused concern Given the high transaction value of $94 million at the time of the transfer, community donations were received.
EF contributor Josh Spark and Ethereum co-founder Vitalik Buterin revealed the reason for the move, explaining that it is to foster institutions that strengthen the Ethereum ecosystem.
According to on-chain data platform Arkham, EF-related addresses are mostly 45,000 ETH in negative net flow In 2024.
After 1 week, Buterin had to explain He said he has not realized any profit for his own benefit since 2018, and has deposited $10 million worth of ETH deposits. He further added:
“All proceeds have been used to support a variety of projects deemed worthy, either within the Ethereum ecosystem or broader philanthropy (such as biomedical research and development).”
As of November 28, Buterin-related wallets have recorded negative net flows of 6,000 ETH since the beginning of the year.
ETH investors are particularly concerned about these transfers, given the crypto’s underperformance this year compared to Bitcoin (BTC) and Solana (SOL).
According to data Artemis, Bitcoin, and Solana posted annual returns of nearly 116% in 2024, while ETH is up 51.5% so far, well below the average return of the crypto market of 109%.
