--- title: "Key facts: 577,896 ETH to Binance; BitMine Cuts Buys; 244,000 ETH Moved" type: "News" locale: "en" url: "https://longbridge.com/en/news/286010752.md" description: "Whale Garrett Jin transferred 577,896 ETH (~$1.35B) to Binance, which now holds 3.62M ETH (24.6% of centralized exchange supply). BitMine, holding 5.2M ETH, will reduce its weekly purchases. A large holder moved 244,000 ETH to Binance, causing a dip to $2,277 before recovering to $2,330. ETHUSD rallied 33% from February lows, with targets set by analysts ranging from $12,000 to $24,000 by 2028. The Ethereum Foundation appointed new protocol co-leads to enhance development efforts." datetime: "2026-05-12T00:04:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286010752.md) - [en](https://longbridge.com/en/news/286010752.md) - [zh-HK](https://longbridge.com/zh-HK/news/286010752.md) --- # Key facts: 577,896 ETH to Binance; BitMine Cuts Buys; 244,000 ETH Moved - Whale Garrett Jin moved 577,896 ETH (~$1.35B) to Binance over four days. Binance now holds about 3.62M ETH, roughly 24.6% of centralized exchange ETH supply.1 - BitMine holds 5,206,790 ETH (≈4.31% circulating). It bought 26,659 ETH since May 4, will slow weekly buys from prior \>100k ETH, and has ~4.7M ETH staked (~90%).23 - Large holder moved about 244,000 ETH to Binance over three days; ETH dipped to $2,277 then recovered to around $2,330 during the transfers, showing short-term sell pressure.4 - ETHUSD rallied ~33% from February lows, testing resistance near $2,450 amid consolidation. Open interest rose about $4.5B during the rally, while funding rates stayed mostly negative.5 - Analyst Celal Kucuker maps ETHUSD: short dip to $1,760–$1,800, rally to ~$4,900, breakout toward $6,000, cycle extension to ~$13,000, final parabolic target near $24,000 by 20286 - Tom Lee set ETHUSD targets: $12,000 (8‑yr avg ETH/BTC), $22,000 (2021 high ETH/BTC), $62,000 (Ethereum as dominant finance infra); cites Grayscale on ~$300T tokenized market potential.7 - Ethereum Foundation names Will Corcoran, Kev Wedderburn and Fredrik as Protocol co-leads; they’ll oversee protocol security, zkEVM efforts and cross-team coordination for ETH development.8 ### Related Stocks - [RIOT.US](https://longbridge.com/en/quote/RIOT.US.md) - [MARA.US](https://longbridge.com/en/quote/MARA.US.md) - [COIN.US](https://longbridge.com/en/quote/COIN.US.md) - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [QETH.US](https://longbridge.com/en/quote/QETH.US.md) - [IETH.US](https://longbridge.com/en/quote/IETH.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [EZET.US](https://longbridge.com/en/quote/EZET.US.md) - [COIG.US](https://longbridge.com/en/quote/COIG.US.md) - [BTF.US](https://longbridge.com/en/quote/BTF.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [ETH.US](https://longbridge.com/en/quote/ETH.US.md) - [EETH.US](https://longbridge.com/en/quote/EETH.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) - [ETHV.US](https://longbridge.com/en/quote/ETHV.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [FETH.US](https://longbridge.com/en/quote/FETH.US.md) - [AETH.US](https://longbridge.com/en/quote/AETH.US.md) - [ETHW.US](https://longbridge.com/en/quote/ETHW.US.md) - [BLOK.US](https://longbridge.com/en/quote/BLOK.US.md) - [CONL.US](https://longbridge.com/en/quote/CONL.US.md) - [LMBO.US](https://longbridge.com/en/quote/LMBO.US.md) - [BLCN.US](https://longbridge.com/en/quote/BLCN.US.md) - [CETH.US](https://longbridge.com/en/quote/CETH.US.md) - [ETHT.US](https://longbridge.com/en/quote/ETHT.US.md) - [ETHHKD.VAHK](https://longbridge.com/en/quote/ETHHKD.VAHK.md) - [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md) - [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md) ## Related News & Research - [EXCLUSIVE-How Trump's crypto venture and Iran's top exchange tapped into the same industry networks](https://longbridge.com/en/news/286735446.md) - ['The Entire Economy Is Going To Be Tokenized,' Consensys CEO Joseph Lubin Says, Positioning Ethereum As The Winner](https://longbridge.com/en/news/286265353.md) - [Key facts: ETHUSD sellers realized ~$74.6M; targets range $1,071–$4,000](https://longbridge.com/en/news/286645101.md) - [Kelp DAO eyes unpausing withdrawals after attackers’ rsETH on Arbitrum is burned](https://longbridge.com/en/news/286196944.md) - [Ethereum Community Debates Changes To Staking Model As ETH Remains Stuck Below $2,300](https://longbridge.com/en/news/286153164.md)