Ah, behold the spectacle! Over 260,000 ETH-worth a staggering $543 million, as if we just found a treasure chest-was dumped onto Binance in mere minutes! February has never been so generous! Lookonchain, our trusty oracle, points a finger at Garrett Jin, the so-called Bitcoin OG from yesteryears. Talk about making an entrance! This grand gesture comes just as ETH attempts to hold its breath near $2,000, following a week where data made everyone feel like they could embrace risk without a parachute.
The Legend of the Whale: Who is Garrett Jin?
Picture this: a colossal haul of 261,024 ETH, worth the aforementioned $543 million, sashaying into Binance. This event has become one of the largest of its kind in February, immediately flashing warning signs about short-term exchange supply risks. One cannot help but chuckle at the sheer audacity!
Whale Alert, our watchful guardian of the crypto seas, first spotted three consecutive transfers-69,378 ETH, 96,116 ETH, and 95,526 ETH-emanating from wallets that are ‘unknown’, which sounds awfully suspicious, doesn’t it?
But wait, there’s more! Lookonchain later revealed that these deposits were indeed linked to the elusive Garrett “Bullish” Jin-the man who is perhaps better known for nailing the perfect timing of the infamous October 10 ‘Black Friday’ crash, where crypto aficionados collectively lost at least $40 billion. Oops!
Instead of meandering through other wallets, these transfers headed straight to Binance deposit addresses, making it likely that this liquidity will be put to work faster than you can say “crypto volatility.” Furthermore, Lookonchain had previously tracked this same entity selling 5,000 BTC and withdrawing over $53 million USDT from Binance. Ah, tactical capital rotation-how sophisticated! It suggests that there’s some active selling on Jin’s part, not merely a leisurely stroll down the crypto lane.
Meanwhile, Ethereum (ETH) finds itself trading around $2,074 on Binance, a far cry from January’s dizzying heights above $3,300. The price chart resembles a rollercoaster ride gone wrong, showing a sharp breakdown followed by a consolidation period between $1,900 and $2,150. That range is now the ultimate decision zone, especially with exchange balances rising like the dough in a baker’s oven.
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2026-02-15 15:47