A wallet linked to Ethereum co-founder Jeffrey Wilcke transferred 79,358 ETH valued at around $157 million to the Kraken exchange on Saturday, as first reported by on-chain analyst @ai_9684xtpa.
The move came eight months after Wilcke reportedly moved $41 million worth of ETH, with data tracked by Lookonchain showing that he held 95,897 ETH at the time.
Wilcke joined the Ethereum team in late 2013 and earned a reputation for creating Geth, the most widely used client for running Ethereum nodes.
The software developer helped maintain the network’s core infrastructure until stepping back around 2018. He later moved into gaming with the launch of Grid Games.
Wilcke received an estimated allocation of 463,000 ETH as one of Ethereum’s early co-founders. The investor has intermittently offloaded parts of his ETH stash over the past few years.
Ethereum is hovering around $1,900 at the time of reporting, up 4% in the last seven days, per CoinGecko.
The second-largest digital asset is down roughly 60% from its record high of around $4,900 set last August.
Crypto assets like Ethereum have historically shown sensitivity to the behavior of large holders. Transactions by well-known figures often trigger stronger market reactions than movements by anonymous whales.