Over 260,000 $ETHAt the time of writing, funds worth $543 million were deposited into Binance within minutes, making it one of the largest concentrated Ethereum inflow events of February. Lookonchain linked transfers to a wallet associated with Garrett Zinn, also known as Bitcoin OG, in the 2010s. This movement looks like this $ETH The stock price is trying to stabilize around $2,000 as this week’s macro data revives risk-on sentiment.
Whale Tracking: Who is Garrett Zinn?
Most of 261,024 $ETHwhich was worth approximately $543 million at the time it was sent to Binance, became one of the largest single-venue Ethereum events in February and quickly put a spotlight on short-term currency supply risks.
Whale Alert first noticed 3 consecutive transfers – 69,378 $ETH,96,116 $ETH,95,526 $ETH – From an “unknown” wallet.
However, Lookonchain later confirmed that the deposit was linked to an address associated with Garrett “Bull” Jin. Some call him the Bitcoin OG of the 2010s, and he is remembered as the insider who almost perfectly timed the Oct. 10 “Black Friday” crash, in which crypto market participants lost at least $40 billion.
Since the transfer was sent directly to your Binance deposit address without going through other wallets, it is more likely that your liquidity will be used immediately. What’s more, Lookonchain has already tracked the same entity selling 5,000 BTC and withdrawing over $53 million USDT from Binance, suggesting a tactical capital rotation rather than a long-term storage move. Based on its trading history, there is a high possibility that there is active selling from Jin’s side.
Ethereum ($ETH) Meanwhile, it is currently trading at around $2,074 on Binance, a significant drop from its January high of over $3,300. The price structure shows a sharp collapse, followed by a period of stability between $1,900 and $2,150. That range is like a decision zone right now, especially if the exchange balances are rising.
