ETH Whales on the Move as Ethereum Hits New Highs
Ethereum's Price Surge Triggers Whale Activity
Ethereum's recent surge to a new 2025 high has spurred significant activity among major ETH holders. Ethereum co-founder Jeffrey Wilcke, BitMEX's Arthur Hayes, and ShapeShift's Erik Voorhees have all executed substantial ETH transactions in recent days, signaling potentially significant market shifts.
Wilcke Moves $9.22M in ETH as Ethereum Reaches Peak
Jeffrey Wilcke, a co-founder of Ethereum, moved 9,840 ETH, valued at $9.22 million, to Kraken as Ethereum reached a new high for 2025. This deposit occurred recently, according to data from Lookonchain.
- This follows an earlier transfer of 105,737 ETH to eight new wallets three months prior.
- Despite this recent transaction, Wilcke still holds 95,897 ETH, worth approximately $401.6 million.
This latest transfer coincides with Ethereum’s breakout, now trading at $4,196.30, marking a 5.52% increase in the past 24 hours.
Hayes Buys Back ETH After Earlier Sale
Arthur Hayes, co-founder of BitMEX, previously sold 2,373 ETH for $8.32 million when Ethereum was trading near $3,507. However, Lookonchain data indicates he has since moved 10.5 million USDC to repurchase ETH at a higher price.
- Hayes humorously acknowledged the buyback on social media, seeking forgiveness for taking profits earlier.
Other Whale Movements:
- Wallet 0xF436 withdrew 17,655 ETH ($72.7 million) from exchanges, potentially for SharpLink Gaming.
- Whale 0x3684 spent 34 million USDT to buy 8,109 ETH at $4,193 each.
Voorhees Cashes Out Millions
Erik Voorhees, an early Bitcoin advocate and founder of ShapeShift, sold 6,581 ETH for $27.38 million today, with Ethereum at $4,161.
- Voorhees initially received 14,945 ETH from ShapeShift nine years ago when it was valued at just $7.74 per ETH.
- That original amount, worth $115,600 then, is now valued at $62.68 million.
- His most recent sale was on December 6, 2024, where he sold 7,807 ETH for $31.27 million at $4,005.
- Following today's transaction, Voorhees still holds 556.68 ETH, worth $2.33 million.
While the buys suggest confidence in continued price growth, Voorhees and Wilcke’s sales add to ongoing profit-taking at multi-month highs. The market's strong demand continues to absorb supply, fueling Ethereum's ongoing rally.
Disclaimer: Cryptocurrency investments are subject to market risks. Conduct thorough research before investing.