Ethereum whale transfer: wallet wey dem connect to Joseph Lubin send 80,001 ETH after 3 years
One wallet wey dey linked to Ethereum co-founder Joseph Lubin transfer 80,001 ETH (about $121.6M) after e no move for almost 36 months. The move happen as Ethereum dey trade around recent low near $1,520, inside one sharp 2026 drawdown (about -47% year-to-date).
The wallet still get 243,300 ETH (about $370M), so the transfer na roughly one-third of wetin remain, no be full exit. Traders dey watch for follow-on on-chain actions—especially whether more Ethereum go comot from the wallet or if any of the funds go reach exchanges.
Because the timing overlap with weak market and lower liquidity, the awakening of a long-dormant Ethereum balance fit mean potential supply overhang. But the transfer fit also be custody moves, staking, or OTC settlement. Near-term price impact go depend on whether more Ethereum transfers and any exchange deposits happen.
Bearish
Dis news fit likely make Ethereum go down small-short term because one big wallet wey don siddon for long don send 80,001 ETH during weak price period. Even though di sender still get plenty balance left, di size of di transfer big enough to cause worry about supply overhang and possible follow-up selling.
Traders go focus on execution risk: if di transferred Ethereum (or any next tranche) land for exchanges, spot selling pressure fit increase and worsen di bearish momentum. If instead di ETH remain on-chain, move go staking, or settle via OTC/custody changes, di immediate sell signal fit fade and di event fit turn more neutral.
Given sharp drawdowns and higher sensitivity to liquidity, any exchange-related follow-up go tilt expectations further towards downside both short-term and possibly for di next few sessions.