{"id":125276,"date":"2026-05-11T13:04:52","date_gmt":"2026-05-11T11:04:52","guid":{"rendered":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/"},"modified":"2026-05-11T13:04:52","modified_gmt":"2026-05-11T11:04:52","slug":"577896-eth-transferred-binance-whale-activity","status":"publish","type":"post","link":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/","title":{"rendered":"577,896 ETH Transferred to Binance as Whale Activity Intensifies"},"content":{"rendered":"<p>Ethereum Whale Transfers 577,896 ETH to Binance \u2013 Large Exchange Inflows Highlight Market Pressure<\/p>\n\n<span class=\"anchor\" id=\"key-takeaways\" title=\"Key Takeaways\"><\/span><h2 class=\"wp-block-heading\">Key Takeaways<\/h2>\n\n<ul class=\"wp-block-list\"><li>Garret Jin transferred 577,896 ETH worth about $1.35 billion to Binance within four days.<\/li><li>The largest single disclosed deposit amounted to 225,627 ETH valued at $528.19 million.<\/li><li>On-chain data indicates Jin is facing approximately $1.3 billion in unrealized losses.<\/li><li>The ETH\/BTC ratio has declined to 0.02887, down more than 6 percent over the past month.<\/li><li>Mid-sized whale wallets are reducing exposure, while the largest wallet cohort continues accumulating ETH.<\/li><\/ul>\n\n<span class=\"anchor\" id=\"577896-eth-moved-to-binance-within-four-days\" title=\"577,896 ETH Moved to Binance Within Four Days\"><\/span><h2 class=\"wp-block-heading\">577,896 ETH Moved to Binance Within Four Days<\/h2>\n\n<p>On-chain data shows that Garret Jin, founder of the now-defunct crypto exchange BitForex, transferred 577,896 ETH to Binance over a four-day period. The total value of these transfers is estimated at approximately $1.35 billion. The most recent disclosed transaction involved 225,627 ETH, worth $528.19 million at the time of the deposit.<\/p>\n\n<p>Blockchain analytics platform Lookonchain reported the movements, highlighting the concentration and speed of the transfers. The transactions directed the full amount to Binance, one of the largest crypto exchanges by trading volume. Large inflows of digital assets to exchanges are closely monitored because they can increase available supply on trading platforms.<\/p>\n\n<p>Eight months earlier, when Ethereum was trading at $4,591, most of Jin\u2019s current ETH holdings were reportedly converted from Bitcoin. With Ethereum now trading significantly below that level, on-chain data indicates that Jin\u2019s position reflects around $1.3 billion in unrealized losses.<\/p>\n\n<span class=\"anchor\" id=\"eth-btc-ratio-declines-as-ethereum-underperforms-bitcoin\" title=\"ETH\/BTC Ratio Declines as Ethereum Underperforms Bitcoin\"><\/span><h2 class=\"wp-block-heading\">ETH\/BTC Ratio Declines as Ethereum Underperforms Bitcoin<\/h2>\n\n<p>At the same time as the exchange inflows, Ethereum has been underperforming Bitcoin in relative terms. The ETH\/BTC ratio currently stands at 0.02887, marking a decline of more than 6 percent over the past month, according to TradingView data cited in the report.<\/p>\n\n<p>The ETH\/BTC ratio measures the relative strength of Ethereum against Bitcoin. A declining ratio indicates that Ethereum is losing value compared to Bitcoin over the measured period. This relative weakness coincides with the recent large-scale transfers to Binance.<\/p>\n\n<p>Market participants often track exchange inflows and relative performance metrics together to assess short-term positioning and liquidity conditions. In this case, both the exchange transfers and the ratio movement have drawn attention to Ethereum\u2019s current market structure.<\/p>\n\n<span class=\"anchor\" id=\"supply-distribution-shows-diverging-whale-behavior\" title=\"Supply Distribution Shows Diverging Whale Behavior\"><\/span><h2 class=\"wp-block-heading\">Supply Distribution Shows Diverging Whale Behavior<\/h2>\n\n<p>Data from Santiment provides additional insight into Ethereum\u2019s supply distribution across wallet sizes. According to the reported figures, mid-sized whale wallets holding between 10,000 and 100,000 ETH have been reducing their exposure. This pattern suggests that this cohort is either taking profits or decreasing risk.<\/p>\n\n<p>In contrast, the largest wallet cohort continues to accumulate ETH steadily. These largest wallets are often associated with institutions, exchanges, or so-called mega whales due to the scale of holdings involved. The data indicates that while some holders are distributing supply, the biggest entities are absorbing part of that selling pressure.<\/p>\n\n<p>This divergence in behavior highlights that not all large holders are acting uniformly. While certain segments reduce exposure, others expand their positions, leading to a redistribution of supply among different wallet categories.<\/p>\n\n<span class=\"anchor\" id=\"previous-large-transactions-linked-to-garret-jin\" title=\"Previous Large Transactions Linked to Garret Jin\"><\/span><h2 class=\"wp-block-heading\">Previous Large Transactions Linked to Garret Jin<\/h2>\n\n<p>Garret Jin\u2019s wallet activity previously attracted attention in October 2025. At that time, on-chain investigators linked his address to a $735 million Bitcoin transaction that occurred minutes before a major market meltdown associated with tariff-related volatility.<\/p>\n\n<p>Following allegations of insider trading, Jin stated that the short position involved was a hedge and that the funds belonged to clients. The earlier transaction contributed to increased scrutiny of large wallet movements connected to his addresses.<\/p>\n\n<p>The recent Ethereum deposits also coincide with additional whale activity. Another large holder transferred approximately $180 million worth of Ethereum to Binance. Separately, an additional 108,169 ETH was deposited to Binance on May 10 by another whale wallet. These combined movements have increased total ETH inflows to the exchange within a short timeframe.<\/p>\n\n<span class=\"anchor\" id=\"exchange-flows-as-a-key-market-indicator\" title=\"Exchange Flows as a Key Market Indicator\"><\/span><h2 class=\"wp-block-heading\">Exchange Flows as a Key Market Indicator<\/h2>\n\n<p>The concentration of deposits into Binance places exchange flow data at the center of current Ethereum market monitoring. Large transfers to exchanges can alter short-term liquidity conditions by increasing the amount of ETH readily available for trading.<\/p>\n\n<p>At the same time, supply distribution data shows that accumulation by the largest wallets continues despite visible outflows from mid-sized whales. The interaction between exchange inflows and wallet-level accumulation provides a detailed picture of how Ethereum supply is shifting among market participants.<\/p>\n\n<p>For users of crypto platforms, exchange balances and whale activity are measurable on-chain indicators that can influence short-term volatility and trading conditions. The reported transfers represent one of the largest recent concentrated ETH movements tied to a single entity.<\/p>\n\n<span class=\"anchor\" id=\"our-assessment\" title=\"Our Assessment\"><\/span><h2 class=\"wp-block-heading\">Our Assessment<\/h2>\n\n<p>On-chain data confirms that 577,896 ETH worth approximately $1.35 billion was transferred by Garret Jin to Binance within four days. The transactions occurred against the backdrop of a declining ETH\/BTC ratio and reported unrealized losses of around $1.3 billion on Jin\u2019s holdings. Supply distribution data shows mid-sized whales reducing exposure while the largest wallets continue to accumulate. Together, these elements document a significant redistribution of Ethereum holdings and elevated exchange inflows during the observed period.<\/p>\n\n<div class=\"gambling-disclaimer\">\n\t<p>\n\t\tWe have imposed strict editorial guidelines on ourselves and explain our testing methods openly and comprehensively. We also communicate transparently how our work is financed. This site may contain tracking links, but this does not influence our objective view in any way.\t<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Garret Jin moved 577,896 ETH to Binance within four days. The transfers coincide with a declining ETH\/BTC ratio and shifting whale supply dynamics.<\/p>\n","protected":false},"author":8,"featured_media":125275,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[],"tags":[],"news_crypto_coin":[],"class_list":["post-125276","post","type-post","status-publish","format-standard","has-post-thumbnail"],"acf":{"faqs":null,"sort_number":999,"sort_number_no_override":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>577,896 ETH Moved to Binance Amid Whale Activity<\/title>\n<meta name=\"description\" content=\"Garret Jin transferred 577,896 ETH worth $1.35 billion to Binance in four days, as the ETH\/BTC ratio declined and whale behavior diverged.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kryptocasinos.com EN\" \/>\n<meta property=\"og:description\" content=\"Garret Jin transferred 577,896 ETH worth $1.35 billion to Binance in four days, as the ETH\/BTC ratio declined and whale behavior diverged.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/\" \/>\n<meta property=\"og:site_name\" content=\"Kryptocasinos.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kryptocasinoscomm\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-11T11:04:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1408\" \/>\n\t<meta property=\"og:image:height\" content=\"736\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Isabella Brown\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Isabella Brown\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/\"},\"author\":{\"name\":\"Isabella Brown\",\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/person\/badee6a5ed8b6777da5bd380d112bcdc\"},\"headline\":\"577,896 ETH Transferred to Binance as Whale Activity Intensifies\",\"datePublished\":\"2026-05-11T13:04:52+02:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/\"},\"wordCount\":822,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#respond\"]}],\"description\":\"\",\"isAccessibleForFree\":true,\"articleBody\":\"Ethereum Whale Transfers 577,896 ETH to Binance - Large Exchange Inflows Highlight Market Pressure\\n\\nKey Takeaways\\n\\nGarret Jin transferred 577,896 ETH worth about $1.35 billion to Binance within four days.The largest single disclosed deposit amounted to 225,627 ETH valued at $528.19 million.On-chain data indicates Jin is facing approximately $1.3 billion in unrealized losses.The ETH\/BTC ratio has declined to 0.02887, down more than 6 percent over the past month.Mid-sized whale wallets are reducing exposure, while the largest wallet cohort continues accumulating ETH.\\n\\n577,896 ETH Moved to Binance Within Four Days\\n\\nOn-chain data shows that Garret Jin, founder of the now-defunct crypto exchange BitForex, transferred 577,896 ETH to Binance over a four-day period. The total value of these transfers is estimated at approximately $1.35 billion. The most recent disclosed transaction involved 225,627 ETH, worth $528.19 million at the time of the deposit.\\n\\nBlockchain analytics platform Lookonchain reported the movements, highlighting the concentration and speed of the transfers. The transactions directed the full amount to Binance, one of the largest crypto exchanges by trading volume. Large inflows of digital assets to exchanges are closely monitored because they can increase available supply on trading platforms.\\n\\nEight months earlier, when Ethereum was trading at $4,591, most of Jin\u2019s current ETH holdings were reportedly converted from Bitcoin. With Ethereum now trading significantly below that level, on-chain data indicates that Jin\u2019s position reflects around $1.3 billion in unrealized losses.\\n\\nETH\/BTC Ratio Declines as Ethereum Underperforms Bitcoin\\n\\nAt the same time as the exchange inflows, Ethereum has been underperforming Bitcoin in relative terms. The ETH\/BTC ratio currently stands at 0.02887, marking a decline of more than 6 percent over the past month, according to TradingView data cited in the report.\\n\\nThe ETH\/BTC ratio measures the relative strength of Ethereum against Bitcoin. A declining ratio indicates that Ethereum is losing value compared to Bitcoin over the measured period. This relative weakness coincides with the recent large-scale transfers to Binance.\\n\\nMarket participants often track exchange inflows and relative performance metrics together to assess short-term positioning and liquidity conditions. In this case, both the exchange transfers and the ratio movement have drawn attention to Ethereum\u2019s current market structure.\\n\\nSupply Distribution Shows Diverging Whale Behavior\\n\\nData from Santiment provides additional insight into Ethereum\u2019s supply distribution across wallet sizes. According to the reported figures, mid-sized whale wallets holding between 10,000 and 100,000 ETH have been reducing their exposure. This pattern suggests that this cohort is either taking profits or decreasing risk.\\n\\nIn contrast, the largest wallet cohort continues to accumulate ETH steadily. These largest wallets are often associated with institutions, exchanges, or so-called mega whales due to the scale of holdings involved. The data indicates that while some holders are distributing supply, the biggest entities are absorbing part of that selling pressure.\\n\\nThis divergence in behavior highlights that not all large holders are acting uniformly. While certain segments reduce exposure, others expand their positions, leading to a redistribution of supply among different wallet categories.\\n\\nPrevious Large Transactions Linked to Garret Jin\\n\\nGarret Jin\u2019s wallet activity previously attracted attention in October 2025. At that time, on-chain investigators linked his address to a $735 million Bitcoin transaction that occurred minutes before a major market meltdown associated with tariff-related volatility.\\n\\nFollowing allegations of insider trading, Jin stated that the short position involved was a hedge and that the funds belonged to clients. The earlier transaction contributed to increased scrutiny of large wallet movements connected to his addresses.\\n\\nThe recent Ethereum deposits also coincide with additional whale activity. Another large holder transferred approximately $180 million worth of Ethereum to Binance. Separately, an additional 108,169 ETH was deposited to Binance on May 10 by another whale wallet. These combined movements have increased total ETH inflows to the exchange within a short timeframe.\\n\\nExchange Flows as a Key Market Indicator\\n\\nThe concentration of deposits into Binance places exchange flow data at the center of current Ethereum market monitoring. Large transfers to exchanges can alter short-term liquidity conditions by increasing the amount of ETH readily available for trading.\\n\\nAt the same time, supply distribution data shows that accumulation by the largest wallets continues despite visible outflows from mid-sized whales. The interaction between exchange inflows and wallet-level accumulation provides a detailed picture of how Ethereum supply is shifting among market participants.\\n\\nFor users of crypto platforms, exchange balances and whale activity are measurable on-chain indicators that can influence short-term volatility and trading conditions. The reported transfers represent one of the largest recent concentrated ETH movements tied to a single entity.\\n\\nOur Assessment\\n\\nOn-chain data confirms that 577,896 ETH worth approximately $1.35 billion was transferred by Garret Jin to Binance within four days. The transactions occurred against the backdrop of a declining ETH\/BTC ratio and reported unrealized losses of around $1.3 billion on Jin\u2019s holdings. Supply distribution data shows mid-sized whales reducing exposure while the largest wallets continue to accumulate. Together, these elements document a significant redistribution of Ethereum holdings and elevated exchange inflows during the observed period.\\n\\n\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/\",\"url\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/\",\"name\":\"577,896 ETH Moved to Binance Amid Whale Activity\",\"isPartOf\":{\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg\",\"datePublished\":\"2026-05-11T13:04:52+02:00\",\"description\":\"Garret Jin transferred 577,896 ETH worth $1.35 billion to Binance in four days, as the ETH\/BTC ratio declined and whale behavior diverged.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#primaryimage\",\"url\":\"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg\",\"contentUrl\":\"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg\",\"width\":1408,\"height\":736,\"caption\":\"Digital illustration of a large Ethereum coin next to the Binance logo with upward trending arrows on a dark background.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.kryptocasinos.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"577,896 ETH Transferred to Binance as Whale Activity Intensifies\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/#website\",\"url\":\"https:\/\/www.kryptocasinos.com\/en\/\",\"name\":\"Kryptocasinos.com\",\"description\":\"\",\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/#organization\",\"name\":\"Kryptocasinos.com\",\"url\":\"https:\/\/www.kryptocasinos.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2025\/06\/kryptocasinos-com-logo.svg\",\"contentUrl\":\"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2025\/06\/kryptocasinos-com-logo.svg\",\"width\":109,\"height\":34,\"caption\":\"Kryptocasinos.com\"},\"image\":{\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/kryptocasinoscomm\/\"],\"description\":\"Explore the best crypto casinos for %%currentyear%%. Compare top Bitcoin gambling sites by payouts, bonuses, KYC, and supported coins, with hands-on testing.\",\"address\":{\"@type\":\"PostalAddress\",\"streetAddress\":\"557 Fuk Wing St\",\"addressLocality\":\"Cheung Sha Wan\",\"addressRegion\":\"HK\",\"postalCode\":\"999077\",\"addressCountry\":\"CN\"},\"contactPoint\":{\"@type\":\"ContactPoint\",\"email\":\"contact@kryptocasinos.com\"},\"foundingDate\":\"2021-03-27\",\"email\":\"hello@kryptocasinos.com\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"11\",\"maxValue\":\"50\"},\"publishingPrinciples\":\"https:\/\/www.kryptocasinos.com\/en\/editorial-guidelines\/\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/person\/badee6a5ed8b6777da5bd380d112bcdc\",\"name\":\"Isabella Brown\",\"description\":\"Online Gambling, Greece and my dog Gringo are my three favorite things in my life. Before working for Kryptocasinos.com I was leading the content team of an iGaming Online magazine where I was focused on researching casinos, their licenses and the connection between the members of the industry.\",\"birthDate\":\"1995-02-13\",\"url\":\"https:\/\/www.kryptocasinos.com\/en\/author\/isabella\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"577,896 ETH Moved to Binance Amid Whale Activity","description":"Garret Jin transferred 577,896 ETH worth $1.35 billion to Binance in four days, as the ETH\/BTC ratio declined and whale behavior diverged.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/","og_type":"article","og_title":"Kryptocasinos.com EN","og_description":"Garret Jin transferred 577,896 ETH worth $1.35 billion to Binance in four days, as the ETH\/BTC ratio declined and whale behavior diverged.","og_url":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/","og_site_name":"Kryptocasinos.com","article_publisher":"https:\/\/www.facebook.com\/kryptocasinoscomm\/","article_published_time":"2026-05-11T11:04:52+00:00","og_image":[{"width":1408,"height":736,"url":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg","type":"image\/jpeg"}],"author":"Isabella Brown","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Isabella Brown","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#article","isPartOf":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/"},"author":{"name":"Isabella Brown","@id":"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/person\/badee6a5ed8b6777da5bd380d112bcdc"},"headline":"577,896 ETH Transferred to Binance as Whale Activity Intensifies","datePublished":"2026-05-11T13:04:52+02:00","mainEntityOfPage":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/"},"wordCount":822,"commentCount":0,"publisher":{"@id":"https:\/\/www.kryptocasinos.com\/en\/#organization"},"image":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#primaryimage"},"thumbnailUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#respond"]}],"description":"","isAccessibleForFree":true,"articleBody":"Ethereum Whale Transfers 577,896 ETH to Binance - Large Exchange Inflows Highlight Market Pressure\n\nKey Takeaways\n\nGarret Jin transferred 577,896 ETH worth about $1.35 billion to Binance within four days.The largest single disclosed deposit amounted to 225,627 ETH valued at $528.19 million.On-chain data indicates Jin is facing approximately $1.3 billion in unrealized losses.The ETH\/BTC ratio has declined to 0.02887, down more than 6 percent over the past month.Mid-sized whale wallets are reducing exposure, while the largest wallet cohort continues accumulating ETH.\n\n577,896 ETH Moved to Binance Within Four Days\n\nOn-chain data shows that Garret Jin, founder of the now-defunct crypto exchange BitForex, transferred 577,896 ETH to Binance over a four-day period. The total value of these transfers is estimated at approximately $1.35 billion. The most recent disclosed transaction involved 225,627 ETH, worth $528.19 million at the time of the deposit.\n\nBlockchain analytics platform Lookonchain reported the movements, highlighting the concentration and speed of the transfers. The transactions directed the full amount to Binance, one of the largest crypto exchanges by trading volume. Large inflows of digital assets to exchanges are closely monitored because they can increase available supply on trading platforms.\n\nEight months earlier, when Ethereum was trading at $4,591, most of Jin\u2019s current ETH holdings were reportedly converted from Bitcoin. With Ethereum now trading significantly below that level, on-chain data indicates that Jin\u2019s position reflects around $1.3 billion in unrealized losses.\n\nETH\/BTC Ratio Declines as Ethereum Underperforms Bitcoin\n\nAt the same time as the exchange inflows, Ethereum has been underperforming Bitcoin in relative terms. The ETH\/BTC ratio currently stands at 0.02887, marking a decline of more than 6 percent over the past month, according to TradingView data cited in the report.\n\nThe ETH\/BTC ratio measures the relative strength of Ethereum against Bitcoin. A declining ratio indicates that Ethereum is losing value compared to Bitcoin over the measured period. This relative weakness coincides with the recent large-scale transfers to Binance.\n\nMarket participants often track exchange inflows and relative performance metrics together to assess short-term positioning and liquidity conditions. In this case, both the exchange transfers and the ratio movement have drawn attention to Ethereum\u2019s current market structure.\n\nSupply Distribution Shows Diverging Whale Behavior\n\nData from Santiment provides additional insight into Ethereum\u2019s supply distribution across wallet sizes. According to the reported figures, mid-sized whale wallets holding between 10,000 and 100,000 ETH have been reducing their exposure. This pattern suggests that this cohort is either taking profits or decreasing risk.\n\nIn contrast, the largest wallet cohort continues to accumulate ETH steadily. These largest wallets are often associated with institutions, exchanges, or so-called mega whales due to the scale of holdings involved. The data indicates that while some holders are distributing supply, the biggest entities are absorbing part of that selling pressure.\n\nThis divergence in behavior highlights that not all large holders are acting uniformly. While certain segments reduce exposure, others expand their positions, leading to a redistribution of supply among different wallet categories.\n\nPrevious Large Transactions Linked to Garret Jin\n\nGarret Jin\u2019s wallet activity previously attracted attention in October 2025. At that time, on-chain investigators linked his address to a $735 million Bitcoin transaction that occurred minutes before a major market meltdown associated with tariff-related volatility.\n\nFollowing allegations of insider trading, Jin stated that the short position involved was a hedge and that the funds belonged to clients. The earlier transaction contributed to increased scrutiny of large wallet movements connected to his addresses.\n\nThe recent Ethereum deposits also coincide with additional whale activity. Another large holder transferred approximately $180 million worth of Ethereum to Binance. Separately, an additional 108,169 ETH was deposited to Binance on May 10 by another whale wallet. These combined movements have increased total ETH inflows to the exchange within a short timeframe.\n\nExchange Flows as a Key Market Indicator\n\nThe concentration of deposits into Binance places exchange flow data at the center of current Ethereum market monitoring. Large transfers to exchanges can alter short-term liquidity conditions by increasing the amount of ETH readily available for trading.\n\nAt the same time, supply distribution data shows that accumulation by the largest wallets continues despite visible outflows from mid-sized whales. The interaction between exchange inflows and wallet-level accumulation provides a detailed picture of how Ethereum supply is shifting among market participants.\n\nFor users of crypto platforms, exchange balances and whale activity are measurable on-chain indicators that can influence short-term volatility and trading conditions. The reported transfers represent one of the largest recent concentrated ETH movements tied to a single entity.\n\nOur Assessment\n\nOn-chain data confirms that 577,896 ETH worth approximately $1.35 billion was transferred by Garret Jin to Binance within four days. The transactions occurred against the backdrop of a declining ETH\/BTC ratio and reported unrealized losses of around $1.3 billion on Jin\u2019s holdings. Supply distribution data shows mid-sized whales reducing exposure while the largest wallets continue to accumulate. Together, these elements document a significant redistribution of Ethereum holdings and elevated exchange inflows during the observed period.\n\n"},{"@type":"WebPage","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/","url":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/","name":"577,896 ETH Moved to Binance Amid Whale Activity","isPartOf":{"@id":"https:\/\/www.kryptocasinos.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#primaryimage"},"image":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#primaryimage"},"thumbnailUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg","datePublished":"2026-05-11T13:04:52+02:00","description":"Garret Jin transferred 577,896 ETH worth $1.35 billion to Binance in four days, as the ETH\/BTC ratio declined and whale behavior diverged.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#primaryimage","url":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg","contentUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/05\/577896-eth-transferred-binance-whale-activity.jpg","width":1408,"height":736,"caption":"Digital illustration of a large Ethereum coin next to the Binance logo with upward trending arrows on a dark background."},{"@type":"BreadcrumbList","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/577896-eth-transferred-binance-whale-activity\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.kryptocasinos.com\/en\/"},{"@type":"ListItem","position":2,"name":"577,896 ETH Transferred to Binance as Whale Activity Intensifies"}]},{"@type":"WebSite","@id":"https:\/\/www.kryptocasinos.com\/en\/#website","url":"https:\/\/www.kryptocasinos.com\/en\/","name":"Kryptocasinos.com","description":"","inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.kryptocasinos.com\/en\/#organization","name":"Kryptocasinos.com","url":"https:\/\/www.kryptocasinos.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2025\/06\/kryptocasinos-com-logo.svg","contentUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2025\/06\/kryptocasinos-com-logo.svg","width":109,"height":34,"caption":"Kryptocasinos.com"},"image":{"@id":"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/kryptocasinoscomm\/"],"description":"Explore the best crypto casinos for %%currentyear%%. 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Before working for Kryptocasinos.com I was leading the content team of an iGaming Online magazine where I was focused on researching casinos, their licenses and the connection between the members of the industry.","birthDate":"1995-02-13","url":"https:\/\/www.kryptocasinos.com\/en\/author\/isabella\/"}]}},"yoast_meta":{"_yoast_wpseo_primary_category":"","_yoast_wpseo_title":"577,896 ETH Moved to Binance Amid Whale Activity","_yoast_wpseo_metadesc":"Garret Jin transferred 577,896 ETH worth $1.35 billion to Binance in four days, as the ETH\/BTC ratio declined and whale behavior diverged."},"_links":{"self":[{"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/posts\/125276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/comments?post=125276"}],"version-history":[{"count":0,"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/posts\/125276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/media\/125275"}],"wp:attachment":[{"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/media?parent=125276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/categories?post=125276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/tags?post=125276"},{"taxonomy":"news_crypto_coin","embeddable":true,"href":"https:\/\/www.kryptocasinos.com\/en\/wp-json\/wp\/v2\/news_crypto_coin?post=125276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}