Ethereum Whale Moves $356M in ETH, Price Holds Above $2,700

A large Ethereum wallet linked to Joseph Lubin moved 133,298 ETH, worth approximately $356 million, to a new address. The transaction did not send the tokens to a known centralized exchange, which may reduce the immediate selling pressure on the market.

The transfer did not seem to affect the Ethereum price, which held above $2,700 on October 1. The token remains above the $2,700 area that has acted as a key short-term battleground during its recent recovery.

Despite the uncertainty created by the large wallet movement, Ethereum's daily chart remains constructive. The Directional Movement Index shows a positive directional indicator, and the 20-day Chaikin Money Flow is in positive territory, indicating stronger buying pressure.