Ethereum Rises to $4,300 as Co-Founder Moves $9.2M ETH to Kraken
Ethereum’s price climbed to $4,300 after co-founder Jeffrey Wilcke transferred 9,840 ETH (worth $9.2 million) to Kraken. This move coincided with a 25% weekly gain for Ethereum and has sparked market speculation. Institutional demand has intensified, with over 17,655 ETH (approximately $72.7 million) withdrawn from exchanges in the past 18 hours, indicating strong accumulation. Traders view the co-founder’s ETH deposit on Kraken as a signal of further market activity. Combined with upcoming protocol upgrades, heightened institutional interest and strategic transfers underpin a bullish outlook for Ethereum.
Bullish
The co-founder’s $9.2 million ETH transfer to Kraken amid a 25% weekly rally signals strong market momentum. Historical patterns show that key figures moving large ETH stakes often precede price accelerations, especially when combined with significant institutional withdrawals. The 17,655 ETH shift off exchanges highlights growing accumulation. Coupled with upcoming network upgrades, this combination points to sustained buying pressure. In the short term, traders may experience volatility around the deposit event, but the overall setup supports a bullish trajectory for ETH as institutions deepen their positions.