Lubin-Linked Wallet Transfers $356M in ETH, But Price Holds Steady

Ethereum's price held steady above $2,700 on October 1 after a wallet linked to co-founder Joseph Lubin transferred 133,298 ETH, worth around $356.2 million at the time.

The transaction was reported by onchain tracker Lookonchain and did not send the tokens to a known centralized exchange, suggesting that there is currently no evidence of immediate selling pressure.

However, the size of the transfer puts the receiving address in focus, and any subsequent movement of the ETH to exchanges could change the market implications of the transfer.

Ethereum's daily chart remains constructive despite the uncertainty created by the large wallet movement.