Hupzy (Spot On Chain)|Oct 29, 2026 02:06
A dormant Ethereum OG wallet at 0x6D30…679E2 moved its entire 𝟮,𝟭𝟭𝟵 𝗘𝗧𝗛 ($4.99M) into Coinbase after a three-year silence — the classic full-stack exit pattern.
𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: Exchange deposits from long-dormant wallets are sell-pressure by default; the intent is liquidity, not custody reshuffling. At $4.99M this won't move ETH on its own, but watch whether more dormant OG wallets follow the same cadence — repeated deposits compound the ETH supply overhang. Short bias on the deposit; fade if Coinbase absorbs the flow without visible spot-market impact.
https://arkm.com/explorer/address/0x6D30C34Cc79906CD4c10cD1d710D1d736aa679E2
source: lookonchain
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