- Over $1B in Bitcoin and Ethereum was transferred to exchanges from a wallet linked to Garret Jin.
- The same wallet recorded a $250M profit from a single trade during October’s crypto rally.
- Large BTC and ETH sales led to short-term price volatility across major crypto exchanges.
A cryptocurrency wallet linked by online analysts to Garret Jin has moved more than $1 billion in Bitcoin and Ethereum. The activity has drawn attention due to the scale of the transactions and the wallet’s prior trading record.
Over $1 Billion in Bitcoin and Ethereum Sold
Blockchain tracking platforms show that large amounts of Bitcoin and Ethereum were transferred to exchanges. The total estimated value of the assets sold exceeds $1 billion at recent market prices. The transactions were executed over a short time frame.
Data indicates that the sales included both Bitcoin and Ethereum holdings. Market observers noted increased spot market activity during the transfers. Exchange order books absorbed the volume without reported disruption.
The wallet involved has been widely discussed on social media. Some traders have linked it to Garret Jin, who is described online as having connections within President Donald Trump’s circle. No official statement has confirmed the identity of the wallet holder.
Previous Trading Record Draws Attention
The same wallet previously recorded a large profit in October. On-chain data shows a trade that generated more than $250 million during a strong market rally. That transaction contributed to the wallet’s reputation among online trading communities.
Social media users have described the wallet as having a “100% win rate.” However, there is no verified public audit of its complete trading history. Performance claims are based on publicly visible transactions.
The October trade occurred during a period of rapid price appreciation. The recent liquidation contrasts with earlier bullish positioning. Analysts are monitoring whether additional transfers follow.
Market Reaction and Ongoing Monitoring
Bitcoin and Ethereum prices showed short-term volatility following the reported sales. However, broader market structure remained intact. Trading volumes increased across major exchanges during the period.
Market participants are watching the wallet for further activity. Large transfers to exchanges are often tracked as potential selling signals. At present, no additional billion-dollar transactions have been confirmed.
The reported liquidation has fueled discussion within crypto markets. Traders continue to monitor blockchain data for confirmation of future movements. For now, the focus remains on the scale of the sales and their timing within current market conditions.
Source: https://www.livebitcoinnews.com/trump-insider-garret-jin-sells-1b-in-bitcoin-and-ethereum/
