One of Ethereum's co-founders just moved over $38 million of ETH to cryptocurrency exchange Kraken as the digital asset market rises.
beginning spotted Jeffrey Wilke, one of Ethereum's founders, transferred 10,000 ETH worth $27.52 million to Kraken early Wednesday morning, according to blockchain tracking firm Arkham Intelligence.
And over the weekend, Wilcke also transferred 4,300 ETH worth $10.75 million to Kraken.
It is unclear what Wilcke plans to do with the ETH, but the ETH could be sold on the open market through Kraken.
According to Etherscan data, Wilcke still holds over 135,738 ETH, worth over $371 million at current prices.
At the time of writing, Ethereum is trading at $2,738, meaning that Wilk transferred his Ethereum to Kraken at the exact moment it hit a two-year high.
Data from crypto tracker Lookonchain recently revealed that an early Ethereum investor deposited 39,260 ETH worth $87.5 million into cryptocurrency exchange Kraken after being dormant for more than five years.
The whale received 47,260 Ethereum worth $11.34 million (at a price of approximately $240 per ETH) between June and August 2017. The following year, he sold 8,000 Ethereum and did not move any tokens after that.
According to Lookonchain, if Whale had sold its stake in Kraken, it would have made a profit of approximately $78 million.
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