Ethereum’s bullish run is showing no signs of slowing, with the price surging 25% in the past week to $4,300.
This rally comes as blockchain co-founder Jeffrey Wilcke shifts 9,840 ETH — worth roughly $9.22 million — to the Kraken exchange, a move catching the attention of market watchers.
Wilcke, a key figure in building Ethereum’s Go Ethereum (Geth) client, still holds vast reserves. His wallets collectively store hundreds of thousands of ETH, along with notable allocations of Status (SNT) and Ethereum Name Service (ENS) tokens. While transfers from major early holders can sometimes spark selling fears, broader market dynamics suggest the current momentum may be hard to derail.
One driver of the recent rally is Ethereum’s growing technological roadmap. Layer-2 network Linea has announced plans to reach full Type-1 zkEVM compatibility by early 2026. In addition, Q4 2025 will see the rollout of ETH staking with “Native Yield,” along with a transaction burn system that extends Ethereum’s EIP-1559 deflationary effects to Layer 2. If delivered as planned, these upgrades could push Ethereum’s scalability toward 5,000 transactions per second while boosting utility through staking and additional fee burns — reinforcing its role as the foundational layer for institutional-grade DeFi.
Institutional demand is also adding fuel to the fire. In the past 18 hours alone, SharpLink Gaming pulled 17,655 ETH (valued at $72.7 million) from exchanges, and another whale wallet known as 0x3684 scooped up 8,109 ETH ($34 million). Even a $27 million ETH sale from Erik Voorhees failed to dent prices, underscoring the depth of current buying pressure.
With major upgrades on the horizon, heavy accumulation by whales, and a supply squeeze from both staking and burns, Ethereum’s outlook appears increasingly bullish. Traders will now be watching whether ETH can maintain momentum and challenge its all-time highs in the months ahead.
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Source: https://coindoo.com/ethereum-co-founder-moves-9-2m-in-eth-to-kraken-as-price-trades-near-4300/