Speculation about ETH selling grows as co-founder deposits $6M to Kraken

Ethereum co-founder Jeffrey Wilcke moved 1,500 ETH holdings to crypto exchange ￰2￱ move has brought speculations that Wickle could be looking to sell before ETH bleeds ￰3￱ to on-chain data , the Ether moved is worth $5.99 ￰4￱ transfer came as Ether price dropped from $4,000 to around $3,900. Meanwhile, the price of ETH is down 13.37% in the last seven ￰5￱ say ETH broke critical support at $4,000, accelerating ￰6￱ transfers more ETH amidst other whale action Wickle has done several other ￰7￱ sent $9.22 million worth of ETH to Kraken in ￰8￱ had sent $262 million worth of ETH to Kraken ￰9￱ the time, Lookonchain speculated that he likely withdrew the same amount to eight newly created wallets rather than for ￰10￱ has since shared a user’s comment on X that said, “he will sell more in the future.” Jeffrey Wilcke, the Co-founder of #Ethereum , just deposited 1,500 $ETH ($5.99M) into #Kraken . ￰0￱ ￰1￱ ￰11￱ — Lookonchain (@lookonchain) September 25, 2025 Meanwhile, some whales seemingly used this opportunity to scoop up ETH at a lower ￰12￱ the last two days, at least 15 wallets have bought more than 406,000 ETH worth $1.6 ￰13￱ wallets bought ETH from crypto exchange Kraken, digital infrastructure provider Galaxy Digital, digital asset services provider BitGo, and digital asset broker ￰14￱ the end of last month, whales bought more than 260,000 ETH, worth $1.14 billion in two days.

However, other whale wallets have dumped significant ETH ￰15￱ from Alpharactal shows a steep decline in addresses holding more than 100,000 ￰16￱ exchange flow data shows a net inflow of $66.7 million on September 26, the same day that ETH fell below $4,000. This is one of the biggest daily inflows in September, which suggests that buyers are sending coins to exchanges to sell them instead of holding on to ￰17￱ netflows.