Yesterday, I checked the on-chain data and saw that Bitcoin’s early holder, Garret Jin, deposited as many as 108,169 Ethereum into a major exchange. If converted at the current price, that’s roughly $250 million. In the Ethereum market, when a move of this size happens, it usually feels like there’s some intention behind it—though the exact reason hasn’t come to light yet.

It also seems like the early holders’ actions always send signals to the market. We’ll have to wait and see whether this large deposit is a sell signal or for some other reason. Either way, it looks like a move Ethereum watchers should pay attention to.