Ethereum co-creator Jeffrey Wilcke has made headlines with a substantial transfer of 10,000 ETH to the major U.S. exchange Kraken. This transaction, reported by Spot On Chain, is valued at approximately $37.38 million, with an exchange rate of $3,738 per ETH. This move is part of a series of significant transfers by Wilcke, who has transferred a total of 24,300 ETH to Kraken since the start of 2024, amounting to around $75.52 million.

Wilcke, a pivotal figure in the development of Ethereum alongside Vitalik Buterin, has garnered considerable attention with his recent market activities. These actions come at a time when Ethereum's price has seen a remarkable surge. Since the beginning of the week, ETH has risen by over 23%, marking its most substantial weekly increase since May 2021. The surge has pushed the price of ETH to $3,780, nearing its all-time high of $4,868. This spike is largely driven by anticipation of a favorable decision on the Ethereum ETF, expected to be announced today.

The significant market movements and insider activities have raised eyebrows within the crypto community. Alongside Wilcke's notable transfers, other key figures like Vitalik Buterin have also been active. Buterin recently transferred 80 ETH, worth approximately $300,000, to the Railgun coin mixer. This transaction is part of his monthly routine over the past six months, sparking speculation about the strategic intentions behind these moves.

Despite his recent large transfers, Wilcke still holds a substantial amount of Ethereum, with 126,000 ETH valued at about $473 million remaining in his possession. As market dynamics are influenced by both greed and fear, the actions of insiders like Wilcke and Buterin provide critical insights into the potential future of Ethereum.

The recent price surge and strategic maneuvers by key Ethereum figures underscore the importance of monitoring insider activities in the crypto market. With rising expectations surrounding the Ethereum ETF and significant transactions by influential players, the Ethereum ecosystem continues to be a focal point for investors and analysts alike.