Ethereum Whale Garrett Jin Sells $250M in ETH Amid Market Speculation
- Garrett Jin deposited a total of 108,169 ETH, valued at approximately $250.17 million, into Binance.
- This follows a previous deposit of 78,077 ETH, worth about $178 million.
- Overall, Jin has deposited 352,268 ETH into the exchange, totaling around $824 million.
- Despite these sales, Ethereum’s price increased by over 1% to approximately $2,330.
- The US Spot Ethereum ETF experienced an outflow of $103.6 million, indicating declining institutional interest.
- Analysts suggest that Ethereum needs to reclaim the $2,400 level to maintain upward momentum.
The recent activity from Ethereum whale Garrett Jin has raised concerns regarding potential selling pressure on the asset as he still holds 225,449 ETH, valued at around $520 million. Meanwhile, the market remains cautiously optimistic with ETH trading above $2,300 despite waning institutional interest.
As of now, Ethereum’s price is positioned at approximately $2,330 after a recent surge of over 1%. Market participants are closely monitoring whether it can surpass the key resistance level of $2,400.
