A wallet linked to one of Ethereum’s founders has moved over $121 million worth of ETH for the first time in over three years, and it couldn’t have come at a worse time for market sentiment. Transport comes in A sensitive moment for ETH, Which reacted by falling to a yearly low of $1,537 over the past 24 hours before recovering slightly above $1,640 at the time of writing.
The wallet linked to Joseph Lubin transfers 80,001 ETH after three years
Blockchain analytics platform Lookonchain flagged a notable transfer on June 6, noting that the wallet associated with Joseph Lubin, Ethereum co-founder and CEO of Consensys, moved 80,001 ETH worth $121.6 million after more than three years of complete dormancy.
Before Lookonchain Highlight the activityThe wallet contains 243,300 ETH worth about $370 million. However, the movement did not stop with the initial transfer of 80,001 ETH. Data from Arkham Intelligence It shows Another 30,000 ETH were transferred from the same wallet after the Lookonchain post, bringing the total inflow to 120,000 ETH within a short period. At the time of writing, the remaining balance of the wallet was 133,000 ETH, meaning that nearly half of the ETH previously held in the address has now been transferred out.
Sudden reactivation of the wallet They set off alarm bells Via crypto social media while Ethereum has already lost about 47% of its value since the beginning of the year. It was already Ethereum Trading under pressure In June, a large movement from a wallet linked to one of the network’s oldest and most visible figures naturally caused panic among other Ethereum traders.
He is #Ethereum Co-founder Joseph Lubin (@EthereumJoseph) Preparing to unload $ Ethereum?
A wallet linked to Joseph Lubin contains 243,300 $ Ethereum($370 million), 80,001 transferred $ Ethereum($121.6 million) after more than 3 years of inactivity.https://t.co/s6lzxlNpRy pic.twitter.com/f0hyWvQBAm
– Loconchain (@loconchain) June 6, 2026
Some whales buy dives while others go out
Tracking outflows from Lubin’s wallets shows that cryptocurrencies eventually entered DSProxy’s wallet. While transactional intentions can be debated, other major shareholders have brought it up It moves more clearly.
For example, Longling Capital, a well-known wallet on on-chain tracking platforms for its buy-low-sell-high pattern, Deposit 10,000 ETH Worth $15.68 million to Binance, according to Lookonchain. The move to the central exchange can easily be interpreted as a precursor to a sell-off from a whale address.
However, not all Pisces In the mood to sell. One Ethereum OG who sold 60,000 ETH and 9,442 wstETH at around $2,040 just a week ago has already started buying back the cryptocurrency. Over the past two days, this whale has spent $55.8 million amassing 35,723 Ethereum at an average price of $1,563 and may not be done yet, according to For Lookonchain data.
Featured image from Unsplash, chart from TradingView
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