Ethereum whale moves $1.35B ETH to Binance, raising market sell-off concerns amid rising exchange reserves.

A major Ethereum whale transferred $1.35 billion worth of ETH to Binance over four days, sparking fears of a large sell-off. The whale, Garrett Jin, moved 577,896 ETH as Ethereum prices fell below his purchase level, resulting in an estimated unrealized loss of $1.3 billion. Institutional investors like BlackRock and Fidelity also increased ETH deposits to exchanges, pushing Binance's reserves to 3.62 million ETH, nearly 24.6% of all ETH on centralized exchanges. Rising exchange reserves typically signal potential selling pressure, though not all deposits lead to immediate sales, leaving market watchers cautious about near-term Ethereum price impacts.