Ethereum co-founder Wilcke reportedly sent 5.5 billion yen worth of ETH to a cryptocurrency exchange

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Ethereum mass transfer

A wallet believed to belong to Ethereum (ETH) co-founder Jeffrey Wilcke sent 22,000 ETH (equivalent to 5.5 billion yen at the remittance rate) to the crypto asset (virtual currency) exchange Kraken on the 5th. have understood.

In general, remittances to cryptocurrency exchanges can lead to selling pressure, so large remittances are attracting a lot of attention from investors. Meanwhile, Wilcke still holds over 150,000 ether in his wallet as of this writing.

There is no confirmation that the wallet in question belongs to Mr. Wilcke. However, the research team of the virtual currency media “The Block” and the blockchain analysis company Nansen have pointed out that it is Mr. Wilcke’s wallet.

According to Etherscan, this wallet last withdrew Ethereum in January 2021. At this time, a total of about 15,000 ETH was sent on the 4th and 6th of the same month, and the destination at this time was also Kraken. Ethereum’s price rose from $967 on January 4th to over $4,700 in November 2021 (CoinGecko).

Wilcke also attracted interest when he transferred 92,000 ETH to Kraken in 2019. According to LinkedIn, he left Ethereum in 2018 before co-founding a company called Grid Games. Back in 2019, it was revealed that he had sold Ethereum in the past because he needed the money to use it for game development.

connection: Cryptocurrency ETH large remittance, the seller of 92,000 ETH turned out

Increase in withdrawals from exchanges

While Wilcke’s exchange deposits have been spotlighted, blockchain analytics firm Santiment reported today that more Ethereum is moving to self-custody and DeFi (decentralized finance) addresses.

What is self-custody?

You manage your own private key and own assets, not an exchange. Wallets are sometimes called “self-hosted” or “self-managed”.

Cryptocurrency Glossary

He points out that many of these ethereums are being sent to the addresses of large holders called whales. The amount of Ethereum held by the top 10 largest addresses excluding exchanges reached 3.18 million ETH, the highest amount ever.

As more and more #Ethereum has been moving into #selfcustody & #DeFi options, many of these coins have been absorbed by the largest whale addresses on the network. #AllTimeHigh 31.8M $ETH worth $59.47B. https://t.co/c3AIDOZsZL pic.twitter.com/lXpsK5pc0r