133,000+ ETH $ETH —did it just get moved out of a related wallet? Will the next stop dump the market?
Lookonchain spotted: addresses related to Ethereum co-founder Joseph Lubin. About 133,298 ETH (worth roughly $356 million at the time) were transferred to a new wallet. crypto.news added a key detail: there’s currently no sign of this going into a centralized exchange, so it can’t be directly treated as an “oncoming sell-off.”
Binance’s ETHUSDT perpetual price is around 2705, up about +0.3% over the past 24h. Volume is roughly $10B, with about 4.64 million trades. Open interest is about 2.31 million ETH (≈$6.2B). Funding is slightly positive at about +0.006%. With such a large on-chain move, the market didn’t really “blow up,” suggesting the funds may be waiting to see whether they’ll go to an exchange next.
I’m watching what the receiving address does next: if it keeps just “lying in the wallet,” it’s likely routine custody rotation. Only after a batch transfer to an exchange should we talk about sell pressure.
After this unusually calm period following the co-founder-related massive transfer led by $ETH —what do you think? Feel free to leave a comment and chat.
Lookonchain spotted: addresses related to Ethereum co-founder Joseph Lubin. About 133,298 ETH (worth roughly $356 million at the time) were transferred to a new wallet. crypto.news added a key detail: there’s currently no sign of this going into a centralized exchange, so it can’t be directly treated as an “oncoming sell-off.”
Binance’s ETHUSDT perpetual price is around 2705, up about +0.3% over the past 24h. Volume is roughly $10B, with about 4.64 million trades. Open interest is about 2.31 million ETH (≈$6.2B). Funding is slightly positive at about +0.006%. With such a large on-chain move, the market didn’t really “blow up,” suggesting the funds may be waiting to see whether they’ll go to an exchange next.
I’m watching what the receiving address does next: if it keeps just “lying in the wallet,” it’s likely routine custody rotation. Only after a batch transfer to an exchange should we talk about sell pressure.
After this unusually calm period following the co-founder-related massive transfer led by $ETH —what do you think? Feel free to leave a comment and chat.
