According to Lookonchain, eight newly created wallets collectively withdrew 105,736 ETH, worth approximately $262 million, from Kraken shortly after Jeffrey Wilcke's significant ETH deposit. This on-chain activity suggests that Wilcke may not have intended to sell his ETH holdings but rather transferred them to new wallets, indicating potential long-term holding strategies rather than immediate selling pressure. Traders should monitor these large ETH movements, as such whale actions can impact market liquidity and short-term Ethereum price volatility. Source: Lookonchain (@lookonchain, May 20, 2025).