Ethereum Holds Above $2,700 After Lubin-Linked Wallet Moves $356.2M

  • A wallet linked to Ethereum co-founder Joseph Lubin transferred 133,298 ETH to a new address rather than a known centralized exchange.
  • The transfer was valued at about $356.2 million, and ETH traded near $2,713 after gaining 1.87% on Oct. 1.
  • U.S. spot Ethereum ETFs attracted nearly $690 million over five sessions through Sept. 25, while about 43.5 million ETH was staked by Sept. 28.

Ethereum traded near $2,713 on Oct. 1, up 1.87% and above $2,700, after a wallet linked to co-founder Joseph Lubin transferred 133,298 ETH worth about $356.2 million to a new address rather than a known centralized exchange. The transaction, the wallet's first single transfer above $100 million in four years after prolonged limited activity, provided no evidence of an immediate sale, and ETH showed little reaction. The wallet reportedly acquired 560,000 ETH during Ethereum's 2015 subscription phase at a cost basis of $0.31 per token. ETH reached $2,738.51 but remained below resistance near $2,747, $2,781 and $2,800. Technical and on-chain indicators were generally constructive, while ETF inflows and staking activity provided additional market context, although ETF demand later cooled and momentum signals were mixed.

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