Ethereum Co-founder Moves 22,000 ETH to Kraken Address

• Ethereum co-founder moves 22,000 ETH to Kraken.
• The value of the moved Ether was worth around $41.1 million.
• VanEck predicted the price of ETH to hit $11.8k in 2030.

An Ethereum address, believed to be controlled by Ethereum co-founder Jeffrey Wilcke, has reportedly sent 22,000 ether, equivalent to $41.1 million, to an address on the Kraken exchange. The transfer took place approximately two hours ago and has been verified by multiple sources.

Despite this transfer, Wilcke’s address still retains more than 150,000 ether, valued at nearly $280 million. Notably, it had been 29 months since Wilcke’s address last transferred ether out, with the previous instance being the transfer of 15,000 ether into Kraken, as highlighted by crypto reporter Colin Wu.

VanEck predicts Ethereum to hit $11.8k by 2030

VanEck, a global investment manager, has made predictions regarding the price of Ethereum (ETH) in 2030, stating that it could reach $11,800 and become a competitor to U.S. Treasury bonds. The valuation was calculated by discounting Ethereum at 12% to determine its present-day value, resulting in a base case price of $5,359.71.

The predictions are outlined in a report authored by Matthew Sigel, head of digital assets, and Patrick Bush, a research senior investment analyst for digital assets at VanEck. The report not only presents the analysis and valuation methodology for Ethereum but also takes into consideration factors such as transaction fees, MEV (Miner Extractable Value), and “security as a service.”

Furthermore, it explores Ethereum’s potential market share across various sectors and its potential as a store of value within the expanding cryptocurrency market.