Ethereum Co-Founder’s $262M Kraken Transfer Sparks Market Speculation

Ethereum co-founder Jeffrey Wilcke has transferred 105,000 ETH (worth $262 million) to Kraken, marking his first significant wallet activity in months. This move, detected by on-chain tracker Arkham, has fueled rumors of a potential sell-off. Despite the large transaction, Ethereum’s price remained stable, likely supported by declining exchange reserves, showcasing the market’s resilience.

Ethereum Co-Founder Jeffrey Wilcke Transfers $262M to Kraken, Sparking Sell-Off Rumors

Ethereum co-founder Jeffrey Wilcke moved approximately 105,000 ETH—worth $262 million—to Kraken, marking his first major wallet activity in months. The transaction, flagged by on-chain tracker Arkham, ignited market speculation about a potential sell-off.

Despite the whale movement, Ethereum’s price held steady, likely buoyed by declining exchange reserves. The market’s resilience underscores ETH’s maturing liquidity dynamics amid high-profile transactions.

Volatility Shares to Launch First-Ever 1x XRP Futures ETF

Volatility Shares is set to introduce the XRPI ETF on May 22, marking the crypto industry’s first unleveraged XRP futures ETF. The product offers 1x exposure to XRP futures, a significant milestone for institutional investment in the asset. Bloomberg analyst Eric Balchunas noted the distinction from existing Leveraged products like Tectrium’s 2x XRP ETF, which holds $120M in assets under management.

XRP’s price action shows heightened volatility, trading at $2.25 amid a 236.9M XRP ($567M) transfer from Kraken. The MOVE signals potential market repositioning as institutional tools like the XRPI ETF enter the landscape.