•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
A prominent Ethereum holder known as Garrett Jin has transferred his entire 577,896 ETH position—valued at roughly $1.35 billion—into the Binance exchange over a four-day period, according to blockchain analytics firm Lookonchain.
Lookonchain reported that Jin deposited another 108,169 ETH (about $250 million) into Binance in the past hour. Over the previous three days, he moved 352,268 ETH (about $824 million) to Binance and still holds 225,449 ETH (about $520 million) in his wallet.
Jin, posting under the handle BitcoinOG1011short, originally accumulated the Ethereum position by exchanging Bitcoin roughly eight months ago when ETH traded around $4,591 per token. Lookonchain’s analysis estimates Jin is now facing an unrealized loss approaching $1.3 billion on the investment.
Among the transfers, a single-day deposit of 108,169 ETH (about $250 million) followed an earlier movement of 78,077 ETH worth $178 million to the same platform.
While exchange deposits do not necessarily mean immediate selling, they can be used for purposes such as collateral posting or liquidity optimization. Still, large inflows from major holders often raise market concerns about potential downward pressure on price.
Separately, CryptoQuant data cited in the report shows aggregate Ethereum balances on centralized exchanges rising from 14.36 million ETH on May 5 to 14.95 million ETH. Binance holds approximately 3.62 million ETH, representing about 24.6% of total centralized exchange Ethereum holdings.
The report also notes that institutional players BlackRock and Fidelity contributed exchange inflows during the prior week, depositing more than 35,000 ETH into Coinbase Prime.
In the U.S. spot Ethereum ETF market, net outflows totaled $103.6 million on May 7, ending a four-consecutive-day stretch of positive flows.
Market commentator Ted Pillows pointed to multiple hourly surges in Ethereum deposits arriving at Binance throughout May, arguing that the growing exchange supply could hinder price appreciation. His technical view suggests ETH has “lost its parabola” on the 12-hour timeframe and is struggling to reclaim the curved support structure after falling below it.
Pillows said ETH could see one final upward move after “Garrett Bullish” finishes selling activity.
At the time of publication, ETH was trading between $2,306 and $2,330, up about 1% over the past 24 hours.
According to Pillows, ETH needs to reclaim the $2,400 level to maintain its recovery path. He added that a breakdown below $2,300 support could lead to a move toward $2,100 or potentially lower.
> $ETH lost its parabola and is now failing to reclaim it. IMO, once Garrett Bullish stops selling, Ethereum will have its final pump.
Chartist Tradernaber described ETH as stabilizing in a $2,200–$2,330 band. The report says this range has historically acted as a meaningful reaction level in prior market cycles, with earlier consolidations in the area often preceding upward breakouts.
Tradernaber’s analysis suggests that a successful breakout above the current range could set up conditions for a move toward $2,600–$2,700. Conversely, failure to hold support around $2,030–$2,100 could weaken the outlook.
The total amount of Ethereum held on centralized exchanges was 14.95 million ETH as of May 5, up from 14.36 million ETH recorded just days earlier.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
