Journalist
Posted:
- Jeffrey Wilcke made another transfer of 10,000 ETH.
- ETH’s volume exceeded $25 billion.
Over the past week, there have been signs that the co-founder of Ethereum [ETH]Jeffrey Wilcke, had transferred some ETH to an exchange.
But on February 14, Arkham Intelligence Data showed another significant transaction of 10,000 ETH, worth $27 million.
This development follows the movements of the same wallet over the past week, when 4,300 ETH, worth over $10 million, was moved to the same exchange.
Before these recent transactions, the last time ETH was moved from this wallet to an exchange was in June 2023.
However, the occurrence of two movements within the same month is notable, with a total of over 14,000 ETH transferred to date.
Ethereum’s Netflow is negative despite movements
An examination of Ethereum’s exchange volume found that, as with the previous instance of the wallet transferring ETH, the volume flow was not significantly affected.
AMBCrypto’s analysis of CryptoQuant’s Netflow chart showed that NetFlow remained negative on February 14, meaning more ETH left exchanges than entered.
The chart showed an outflow of almost 23,000 ETH from the exchanges on February 14, and as of this writing this negative trend continues, with over 9,000 ETH withdrawn from the exchanges.
Source: CryptoQuant
With the recent transfer, the remaining balance in the co-founder’s wallet at the time of writing was approximately 30,000 ETH.
The ETH volume absorbs the last transaction
AMBCrypto’s evaluation of Ethereum’s volume trend showed significant movements recently. Over the past three days, volume has risen above $10 billion.
By the end of February 13, the volume was over $23 billion, and by February 14 it was approaching $20 billion.
Source: Santiment
Realistic or not, here is the market cap of ETH in terms of BTC
At the time of writing, the volume was almost $25 billion. AMBCrypto’s look at the volume trend indicated that the $24 million transferred by Wilcke was easily absorbed by the market.
However, it remains unclear whether more transfers will take place in the future.