TREE NEWS reports: POAP founder @worthalter transferred another 4,000 ETH, worth $10.02 million, to exchange Gemini six hours ago, on-chain analyst Yu Jin monitored. Over six days he has sold down 8,000 ETH at an average price of $2,601, and still holds 51,468 ETH valued at $129 million.
POAP Founder Moves 4,000 ETH to Gemini, Cuts 8,000 ETH in Six Days
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AI take
A founder-linked wallet moving sizeable ETH to a centralized exchange is a familiar pattern, but the scale here — repeated transfers over days rather than a one-off — is what draws attention. The remaining 51,468 ETH means the overhang is far from cleared, so the flow to Gemini is the variable worth tracking. Whether this is treasury management or distribution is unknowable from on-chain data alone, and that ambiguity is precisely what keeps the market watching the address.
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