Ethereum Co-Founder Sells Millions in ETH, Analysts Debate Impact on Price Trajectory
• Ethereum co-founder Jeffrey Wilcke recently sold $10.7 million worth of ETH, sparking speculation of an upcoming price correction.
• Back in June, Wilcke deposited $41.1 million in ETH to Kraken exchange, preceding a steep market downturn.
• However, analyst Adrian Zduńczyk remains optimistic about Ethereum's trajectory, citing a recent "positive gigantic breakout."
• Zduńczyk argues the bullish ascending triangle pattern indicates continuation of an uptrend, despite short-term fluctuations.
• Multiple factors like market dynamics and technical indicators determine if Wilcke's sale leads to a major price correction.