Since March 6, Ethereum has faced significant downward momentum, declining nearly 8% and now testing crucial support near the $1,900 threshold. The catalyst for this selloff was a substantial transaction by Jeffrey Wilcke, one of Ethereum’s co-founders, who transferred 79,176 ETH—valued at approximately $157 million—to the Kraken trading platform. When substantial crypto holdings move to centralized exchanges, market participants typically interpret this as a signal of impending liquidation. This particular transfer created anxiety among traders and compounded the existing weakness in ETH’s price action. The asset ... (full story)