Ethereum (ETH) has experienced a substantial price increase, rising 25% over a brief period to surpass the $4,300 mark. This significant rally reflects heightened market activity and strong accumulation signals from major investors.
A key development fueling market speculation involved Ethereum co-founder Jeffrey Wilcke. Data from blockchain analytics platforms confirmed the transfer of 9,840 ETH, valued at approximately $9.22 million at the time, to the Kraken cryptocurrency exchange. Transactions of this magnitude from founding figures often attract close scrutiny regarding market sentiment.
Accompanying the price surge was notable institutional behavior. Reports indicate significant withdrawals totaling 17,655 ETH (worth roughly $72.7 million) from centralized exchanges. Such large-scale outflows are widely interpreted as indicative of strong buying pressure as institutions move assets to potentially long-term custody solutions.
Collectively, these events pushed Ethereum’s total market capitalization to an estimated $519 billion. This valuation milestone signifies Ethereum outpacing major traditional financial players, specifically exceeding the market capitalizations of both Mastercard and Netflix.