Ethereum

Ascend

2024

Coin

<ul>
 <li><strong>Ethereum’s co-founder and another whale offload millions of ETH.</strong></li>
 <li><strong>A break through the $2,550 resistance might send ETH to $2,715.</strong></li>
 <li><strong>If bears halt the bullish setup, ETH’s price might pull back below $2,300.</strong></li>
</ul>
<p><a href="https://coinedition.com/ethereum-eth-price-prediction/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> could be on the verge of a significant decrease if recent events eventually impact the price. On February 10, Lookonchain confirmed that co-founder of Ethereum Jeffrey Wilcke transferred 4,300 ETH, valued at $10.7 million to the crypto exchange Kraken.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet">
   <p>Jeffrey Wilcke, the Co-founder of <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethereum</a>, deposited 4,300 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>($10.7M) to <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Kraken</a> 7 hours ago.<a href="https://t.co/STceT5cQmT" target="_blank" rel="noopener noreferrer nofollow">https://t.co/STceT5cQmT</a> <a href="https://t.co/ROG0evjirh" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ROG0evjirh</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1756378455745396740?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 10, 2024</a>
  </blockquote>
 </div>
</figure>
<p>Whenever a large volume of cryptocurrency is sent into an exchange, it usually means the participant involved is ready to sell. The incident sparked discussion among market watchers and investors who wondered why a founding member of the project would decide to offload at this time.&nbsp;</p>
<h2 class="wp-block-heading" id="h-whale-joins-the-party"><strong>Whale Joins the Party</strong></h2>
<p>In November 2023, Coin Edition <a href="https://coinedition.com/vitalik-buterins-181k-eth-transfer-to-coinbase-sparks-speculation/" rel="noopener noreferrer nofollow">reported</a> how Vitalik Buterin, another co-founder sold 100 ETH. At that time, ETH’s price was $1,800. But a few days later, the price jumped above $2,000, Co…</p>
<p>The post <a href="https://coinedition.com/can-ethereum-eth-ascend-higher-despite-massive-transfers/" rel="noopener noreferrer nofollow">Can Ethereum (ETH) Ascend Higher Despite Massive Transfers?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Can Ethereum (ETH) Ascend Higher Despite Massive Transfers?

Table of Contents

Coin Edition

Other articles published on Feb 11, 2024

Join our free newsletter for daily crypto updates!