SvmuuNews According to on-chain analyst EmberCN, BNBChain Life, which has surged 20x in two months, may be controlled by Garrett Jin – the whale entity that converted tens of thousands of BTC into over 900,000 ETH last year and suffered a $230 million loss from a long position liquidation on Hyperliquid this February.
1. From February to recent days, an address cluster has accumulated 284 million BNBChain Life tokens ($237 million) through Binance withdrawals and on-chain purchases. This represents 28.4% of the total BNBChain Life supply.
Including holdings on CEX, they likely control a significant proportion of BNBChain Life. The token has also surged 20x during these months ($0.04 → $0.85).
2. Intersection with the Garrett Jin whale entity: Shared deposit addresses.
- Multiple addresses that withdrew large amounts of BNBChain Life from Binance shared a Binance deposit address with the Garrett Jin whale entity six months ago. Addresses that have been heavily buying BNBChain Life on-chain in the past five days shared a Bybit deposit address with the Garrett Jin whale entity.
Therefore, BNBChain Life is highly likely being manipulated by the Garrett Jin whale entity.
◎The Garrett Jin whale entity is the prominent entity that held 100,000 BTC last year, managed by Garrett Jin.
◎Last year, via Hyperliquid, it swapped tens of thousands of BTC for over 900,000 ETH at prices above $3,500.
◎This February, the entity opened a long position of over 200,000 ETH on Hyperliquid, ultimately resulting in a $230 million liquidation loss.
◎In May, when ETH was around $2,350, they transferred 577,000 ETH ($1.351 billion) into Binance, after which ETH continued to decline.