Key Takeaways

  • Jeffrey Wilcke, an Ethereum co-founder, deposited 79,258 ETH (approximately $157M) to Kraken exchange on March 7
  • Vitalik Buterin liquidated 17,196 ETH (around $35M) during February, contributing to insider sell-side activity
  • ETH price has declined 34% year-to-date in 2026, currently fluctuating between $1,944 and $1,976
  • Spot Ethereum ETFs experienced $82.85M in net redemptions during one trading session, with Fidelity’s FETH responsible for $67.57M
  • Technical analysts project potential declines toward $1,800 or $1,500 should critical price floors fail to hold

On March 7, Ethereum co-founder Jeffrey Wilcke executed a transfer of 79,258 ETH to Kraken exchange. The transaction carried a value of roughly $157 million based on prevailing market rates.

Lookonchain, a blockchain intelligence platform, detected the movement spanning four separate wallet addresses. These wallets had remained dormant for approximately seven months prior to this activity.

Analysts from SpotOnChain observed a “round-trip” transaction structure in the wallet behavior. The identical wallets had previously withdrawn matching ETH quantities from Kraken around 10 months earlier, during a period when ETH traded near $2,600.

This pattern indicates the tokens were likely held in custodial arrangements and are now being redeposited to the exchange, potentially for liquidation purposes. Wilcke maintains ownership of 27,241 ETH across various on-chain addresses, representing approximately $53.56 million in value.

In recent years, Wilcke has reduced his involvement in active Ethereum protocol development. His current professional attention centers on private gaming industry projects.

Buterin’s Recent ETH Liquidations

Vitalik Buterin liquidated 17,196 ETH throughout February, generating proceeds of approximately $34.96 million. This amount surpassed his publicly disclosed intention to sell 16,384 ETH.

Buterin indicated the proceeds would fund initiatives supporting open-source development in software and hardware across finance, governance systems, and biotechnology sectors. His ETH holdings began 2026 above 240,000 tokens and currently stand near 224,000 ETH.

Additional historical activity emerged from a long-dormant Ethereum ICO participant wallet. After remaining inactive for 10.6 years, the wallet transferred 100.275 ETH. The original investor contributed merely $124 during the initial coin offering.

Ethereum Price Action and Technical Levels

ETH has experienced a 34% valuation decrease since the beginning of 2026. Recent trading activity has confined the price within a $1,944 to $1,990 range.

Ethereum (ETH) Price
Ethereum (ETH) Price

During the previous week, ETH mounted a recovery from approximately $1,900, reaching a local peak near $2,180 on March 5. This upward momentum proved short-lived, with price action subsequently retreating beneath the $2,000 threshold.

Near-term support establishes around $1,960. The critical psychological barrier remains at $2,000, while a more substantial resistance cluster exists between $2,040 and $2,080.

Ethereum spot ETF products registered $82.85 million in aggregate outflows during a single trading day. Fidelity’s FETH product accounted for $67.57 million of this redemption activity. FETH has now accumulated $218 million in total net outflows.

Polymarket analysts assign a 67% probability to ETH declining toward $1,800. A technical analyst identified a rising wedge formation developing since early February, suggesting $1,500 as the subsequent major support level should the pattern complete its bearish resolution.

Corporate treasury buyers have reduced their ETH accumulation activity as prices have trended downward. The upcoming critical support zone ranges between $1,850 and $1,900.