Joseph Lubin-Linked Wallet Ignites Ethereum Dump Fears After $121M ETH Transfer

Bitcoinist06-08 06:00

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure A wallet linked to one of Ethereum’s co-founders has moved more than $121 million worth of ETH for ...

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Ad Disclosure\n\nA wallet linked to one of Ethereum’s co-founders has moved more than $121 million worth of ETH for ...</p>\n\n<a href=\"https://bitcoinist.com/joseph-lubin-linked-wallet-ignites-ethereum-dump-fears-after-121m-eth-transfer/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ETHE","symbol_name":"最大以太坊ETF-Grayscale","start_time":0,"source_url":"https://bitcoinist.com/joseph-lubin-linked-wallet-ignites-ethereum-dump-fears-after-121m-eth-transfer/","article_id":"2641982104","we_media_id":null,"thumbnails":["https://bitcoinist.com/wp-content/uploads/2026/06/a_9bd0d4.avif?resize=350,250"],"rights":{"source":"bitcoinist_highlight","url":"https://bitcoinist.com/joseph-lubin-linked-wallet-ignites-ethereum-dump-fears-after-121m-eth-transfer/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2641982104","pubTimestamp":1780869654,"columns":[],"sourceInfo":{"source_id":"bitcoinist_highlight","name":"Bitcoinst"},"weMediaInfo":null,"summary":"A wallet linked to one of Ethereum's co-founders has moved more than $121 million worth of ETH for the first...","collect":0,"end_time":0,"defaultTopTitle":"bitcoinist.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETHE":"最大以太坊ETF-Grayscale","ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","ETHI":"Defiance Leveraged Long Income Ethereum ETF","QETH":"以太坊ETF-Invesco Galaxy","ETCO":"Grayscale Ethereum Covered Call ETF","ETHT":"ProShares Ultra Ether ETF","ESK":"REX-Osprey ETH + Staking ETF","ETU":"T-Rex 2X Long Ether Daily Target ETF","ETHU":"2倍以太币期货ETF-Volatility Shares","ETHV":"以太坊ETF-VanEck","TETH":"21Shares Ethereum ETF","EETH":"以太币期货ETF-ProShares","BTF":"比特币&以太币期货ETF-CoinShares","ETHW":"以太坊ETF-Bitwise","ETH":"低成本以太坊ETF-Grayscale","ETHA":"以太坊ETF-iShares","FETH":"以太币ETF-Fidelity","EZET":"以太坊ETF-Franklin","ETHD":"ProShares UltraShort Ether ETF","SETH":"1倍做空以太币期货ETF-Proshares","YETH":"Roundhill Ether Covered Call Strategy ETF"},"translate_title":"1.21亿美元ETH转账后，Joseph Lubin关联钱包引发以太币抛售担忧","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EETH":0.6,"ETQ":0.6,"ETHV":0.6,"ESK":0.6,"ETHD":0.6,"TETH":0.6,"YETH":0.6,"ETCO":0.6,"ETHA":0.6,"ETHU":0.6,"ETU":0.6,"BTF":0.6,"FETH":0.6,"EZET":0.6,"ETHW":0.6,"ETHI":0.6,"ETH":0.6,"ETHT":0.6,"SETH":0.6,"QETH":0.6,"ETHE":0.6},"content_text":"Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure\n\nA wallet linked to one of Ethereum’s co-founders has moved more than $121 million worth of ETH for the first time in over three years, and it could not have come at a worse time for market sentiment. The transfer comes at a sensitive moment for ETH, which reacted by falling to a yearly low of $1,537 in the past 24 hours before recovering slightly back above $1,640 at the time of writing.\nJoseph Lubin-Linked Wallet Moves 80,001 ETH After Three Years\nBlockchain analytics platform Lookonchain flagged a notable transfer on June 6, noting that a wallet associated with Joseph Lubin, the co-founder of Ethereum and chief executive of Consensys, moved 80,001 ETH valued at $121.6 million following more than three years of complete dormancy. \n\n\n\n\n\n\nRelated Reading: Coinbase–Better Deal Enables Mortgages Secured By Bitcoin And USDC\nBefore Lookonchain highlighted the activity, the wallet held 243,300 ETH worth around $370 million. However, the movement did not stop with the initial 80,001 ETH transfer. Data from Arkham Intelligence shows that another 30,000 ETH was moved out of the same wallet after Lookonchain’s post, bringing the total outflow to 120,000 ETH within a short period. At the time of writing, the wallet’s remaining balance is at 133,000 ETH, meaning nearly half of the ETH previously held in the address has now been transferred out. \nETHUSD now trading at $1,631. Chart: TradingView\nThe sudden reactivation of the wallet set off alarm bells across crypto social media at a time when Ethereum has already shed about 47% of its value since the beginning of the year. Ethereum has already been trading under pressure in June, and a large movement from a wallet associated with one of the network’s earliest and most visible figures naturally led to panic from other Ethereum traders.\n\nIs #Ethereum co-founder Joseph Lubin(@ethereumJoseph) preparing to dump $ETH?\nA wallet linked to Joseph Lubin, which holds 243,300 $ETH($370M), transferred out 80,001 $ETH($121.6M) after more than 3 years of inactivity.https://t.co/s6lzxlNpRy pic.twitter.com/f0hyWvQBAm\n— Lookonchain (@lookonchain) June 6, 2026\n\n\n\n\n\n\n\n\n\n\n\n\n\nSome Whales Buy The Dip While Others Head Out\nFollowing the outflows from Lubin’s wallets shows that the cryptocurrencies eventually entered into a DSProxy wallet. While the intentions as to the transactions can be debated, other large holders have been making their moves with more clarity. \nFor instance, Longling Capital, a wallet known on on-chain tracking platforms for its pattern of buying low and selling high, deposited 10,000 ETH worth $15.68 million to Binance, according to Lookonchain. The move to a centralized exchange can be easily interpreted as a precursor to selling from the whale address.\n\n\n\n\n\n\n\n\n\n\n\n\nRelated Reading: FBI Cracks Down On Alleged ISIS Crypto Donors, 3 Americans Arrested\nHowever, not every whale is in a selloff mood. One Ethereum OG who sold 60,000 ETH and 9,442 wstETH at approximately $2,040 just a week earlier has already begun buying back the cryptocurrency. Over the past two days, that whale spent $55.8 million to accumulate 35,723 ETH at an average price of $1,563 and may not be done yet, according to Lookonchain data.\nFeatured image from Unsplash, chart from TradingView\n\n\n\nEditorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. 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