Over 260,000 ETH Deposited to Binance in Short-Term Inflow Spike
Analysis
Price Impact
HighA massive inflow of over 260,000 eth ($543m) to binance, linked to a whale with a history of timely market moves, significantly increases sell-side liquidity and exchange supply risk.
Trustworthiness
HighThe information is sourced from reputable on-chain analytics platforms (lookonchain, whale alert) and reports on verifiable transaction data, linking it to a known entity with a history of market-moving actions.
Price Direction
BearishLarge, concentrated inflows to exchanges, especially from an entity known for 'tactical capital rotation' and past selling of other assets (btc, usdt), typically precede selling pressure. this increases available supply on the exchange, likely leading to a downward price movement in the short term.
Time Effect
ShortThe deposit happened 'within minutes' and directly to binance, indicating an intent for immediate or near-term trading/selling activity rather than long-term holding.
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Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News More than 260,000 ETH, worth $543 million at the time of writing, was deposited to Binance within minutes, marking one of February's largest concentrated Ethereum inflow events. Lookonchain linked the transfers to wallets associated with Garrett Jin, also known as Bitcoin OG, from the 2010s. This move comes as ETH tries to stabilize near $2,000 after the week of macro data revived the risk-on sentiment. Advertisement Tracking the whale: Who is Garrett Jin? A big chunk of 261,024 ETH, worth about $543 million when it was sent to Binance, became one of the biggest single-venue Ethereum events in February, and it put the spotlight on the short-term exchange supply risk right away. Whale Alert first noticed three transfers in a row - 69,378 ETH, 96,116 ETH, and 95,526 ETH - from 'unknown' wallets. HOT Stories Crypto Market Review: XRP Consolidates Amid Low Volatility, DOGE Struggles at $0.10, Is Shiba Inu (SHIB) Testing Key Support? U.Today Crypto Digest: Shiba Inu Price Rebounds, Ex-Ripple CTO Calls Bitcoin ‘Dead End’, Goldman Sachs Owns 14% of XRP ETF However, Lookonchain later confirmed that the deposits were linked to addresses connected to Garrett "Bullish" Jin, whom some call Bitcoin OG from the 2010s, but more remembered as an insider who almost perfectly timed the October 10 'Black Friday' crash - the one where crypto market participants lost at least $40 billion. Advertisement ETH/USD by TradingView The transfers went straight to Binance deposit addresses instead of going through other wallets, which makes it more likely that the liquidity will be used soon. More to it, Lookonchain had already tracked the same entity selling 5,000 BTC and withdrawing over $53 million USDT from Binance, which suggests tactical capital rotation rather than long-term custody movement. That transaction history makes it more likely that there's active selling going on from the Jin's side. You Might Also Like Sat, 02/14/2026 - 19:43 Ethereum Co-Founder Vitalik Buterin Sounds Alarm on State of Prediction Markets By Dan Burgin Ethereum (ETH), in the meantime, is trading at around $2,074 on Binance right now, down significantly from the highs of January above $3,300. The price structure shows a sharp breakdown, followed by a period of consolidation between $1,900 and $2,150. That range is now like a decision zone, especially when exchange balances are going up. Advertisement #Ethereum #Ethereum News #Binance