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Ethereum co-founder moves $121M worth of ETH after 3 years, sparking sell speculation amid market volatility

Market News
06 Jun 2026
UToday
View Source
Bearish
pluang ai news

Ethereum co-founder Joseph Lubin moved 80,001 ETH, valued at about $121.6 million, from his wallet after three years of inactivity. This transfer, which represents about 67% of his holdings, has fueled speculation that he might be selling amid increasing market volatility and price drops. However, the destination of the ETH is unknown, so the move could also be for security, custody, or staking reasons rather than a sale. This event highlights growing sell pressure in Ethereum as even long-term holders reconsider their positions.

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