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Bitcoin Whale Garrett Jin Deposits $543 Million ETH to Binance

Lookonchain reports that the prominent investor resumed selling Ethereum by transferring 261,024 ETH to Binance on February 15.

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ETH
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Summary

On February 15, Bitcoin whale Garrett Jin (BitcoinOG 1011short) deposited 261,024 ETH ($543 million) to Binance, signaling a resumption of Ethereum sales. This transaction follows a recent suspected sell-off of 5,000 BTC ($349 million) and a withdrawal of over 53 million USDT, though the whale retains substantial crypto holdings.

Terms & Concepts
  • Whale: A term used to describe individuals or entities that hold large amounts of cryptocurrency, capable of influencing market prices.
  • ETH: The native cryptocurrency of the Ethereum blockchain, widely used for transactions and decentralized applications.
  • USDT: A stablecoin issued by Tether that is pegged 1:1 to the U.S. dollar, often used to hedge against market volatility.