Ethereum Co-Founder Sends $157 Million in ETH to Kraken as Price Tests $1,900 Support

Overview

• Jeffrey Wilcke moved 79,176 ETH (about $157 million) to Kraken on March 7, reviving concerns about near-term exchange supply.
• LookOnChain and SpotOnChain tied the deposit to previously dormant addresses and noted the same amount had been withdrawn from Kraken about 10 months earlier.
• ETH has dropped roughly 8% since March 6 to a low near $1,912, now below $2,000 as traders watch $1,900–$1,920 support with $1,800 flagged if that level fails.
• ETF flows show a mixed backdrop, with a single-day $82.85 million net outflow led by Fidelity’s FETH contrasted by $23.56 million in net inflows over March 2–6.
• Derivatives readings indicate crowded positioning, with funding rates surging and top Binance accounts about 74% long, while a tracked trader known as Rune reportedly opened 7x leveraged shorts.