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Garrett Jin Bought 71,066 BNB From Binance, Onchain Lens Says

According to Onchain Lens, the whale proxy acquired about $48.22 million in BNB after depositing 577,896 ETH worth $1.35 billion to Binance over the past two weeks.

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BNB

Summary

Onchain Lens reported that whale proxy Garrett Jin bought 71,066 BNB, valued at $48.22 million, from Binance. The same tracker said Garrett Jin deposited 577,896 ETH worth $1.35 billion to Binance over the previous two weeks. The transactions point to a large rotation of capital on a centralized exchange, where major holders can shift exposure between Ethereum and BNB through high-value trades.

Terms & Concepts
  • BNB: The native token of BNB Chain, used for trading, network fees, and other services in the Binance ecosystem.
  • ETH: The native cryptocurrency of Ethereum, a blockchain used for smart contracts (self-executing blockchain code) and decentralized applications.
  • Whale: A market participant holding enough crypto assets to move markets or attract attention with large transactions.