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Cryptoprowl.com / Ethereum (CRYPTO: $ETH ) co-founder Jeffrey Wilcke recently sold 79,859 ETH worth $158.31 million U.S.

According to blockchain analytics platform Onchain Lens, Wilcke moved the Ethereum to the Kraken cryptocurrency exchange in a 24-hour period ahead of a planned sale.

The sale comes as Ethereum continues to struggle with downside price pressure, currently trading below the key support level of $2,000 U.S.

Wilcke's crypto wallet currently holds just 16,037 ETH worth approximately $31.66 million U.S. after his latest sale.

Since stepping away from direct Ethereum development in 2019, Wilcke has been steadily offloading his ETH holdings.

Wilcke has transferred well over $500 million U.S. worth of Ethereum to Kraken over the past several years.

However, Wilcke is not the only Ethereum co-founder who is liquidating his holdings. Vitalik Buterin has also been selling his personal ETH stake.

In January of this year, Buterin announced plans to liquidate 16,384 Ethereum to help fund what he described as an "austerity period" for the Ethereum Foundation.

By late February and early March, Buterin had sold more than 19,300 Ethereum valued at $40 million U.S.