Ethereum: +260,000 ETH deposited on Binance in record time

The crypto market is heating up after the massive deposit of 260,000 ETH on Binance by Garrett Jin. This move raises questions: is it a harbinger of a decline or a hidden strategy of Ethereum whales?

Garrett Jin triggers a red alert on Ethereum

Nicknamed “Bitcoin OG”, Garrett Jin is known for his masterstrokes in the crypto ecosystem. His latest move, depositing 260,000 ETH on Binance, equivalent to 543 million dollars, immediately drew attention. This direct transfer to an exchange platform suggests a desire for quick liquidity, potentially for a sale or exchange.

This massive deposit comes at a time when Ethereum is trying to stabilize around 2,000 dollars. Crypto investors are closely watching market reactions, as such a move can trigger cascading sell-offs, especially if other players follow Garrett Jin’s example.

Massive ETH deposit on Binance: what risks for the market?

Massive crypto deposits on exchanges are often seen as a signal of imminent selling. In the case of Garrett Jin’s 260,000 ETH, this fear is even more justified as the market is already under tension. Even if this action indicates a capital rotation strategy rather than a long-term investment, analysts believe these moves could exert downward pressure on the already fragile ETH price.

Ethereum is currently in a critical zone, between 1,900 and 2,150 dollars. This range is considered a key level to determine the next trend. Thus, if the price breaks downwards, it could lead to a deeper drop, affecting investor confidence. Conversely, stabilization could offer a buying opportunity for those anticipating a recovery.

Why do Ethereum whales continue to accumulate despite the decline?

While Garrett Jin is massively depositing his ETH on Binance, other Ethereum whales are adopting an opposite strategy: accumulation. Indeed, some of them continue to buy large amounts of ETH, despite bearish signals. This behavioral divergence raises questions about the market’s real expectations.

Several hypotheses may explain this accumulation. Some whales might be anticipating an imminent rise, based on technical indicators or insider information. Others might simply be hedging their risks by diversifying their portfolios. Indicators like RSI and buying volumes could confirm an upward trend in the coming weeks.

The massive deposit of 260,000 ETH by Garrett Jin shook the crypto market, but the simultaneous accumulation by whales adds a layer of complexity. Ethereum is at a crossroads: a prolonged decline or a surprise recovery? Investors must remain vigilant and monitor key indicators to anticipate upcoming moves.