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11 May 2026, 03:35
577,000 ETH worth $1.35B moved to Binance in hours
🚨 Garrett Jin’s wallet sent 577,000 ETH worth $1.35 billion to Binance in a few days. 🤝 The move coincided with $103 million in ETF outflows and large institutional ETH transfers. 🔑 Critical data: Investors are closely watching for possible price volatility in $ETH after these historic moves. Continue Reading: 577,000 ETH worth $1.35B moved to Binance in hours The post 577,000 ETH worth $1.35B moved to Binance in hours appeared first on COINTURK NEWS .
11 May 2026, 03:30
Bithumb to Halt XPLA Deposits and Withdrawals for Network Upgrade
BitcoinWorld Bithumb to Halt XPLA Deposits and Withdrawals for Network Upgrade South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for XPLA, the native token of the XPLA blockchain network. The halt is scheduled to begin at 3:00 a.m. UTC on May 13 to facilitate a network upgrade. Timeline and Scope of the Suspension According to Bithumb’s official notice, the suspension will affect all XPLA deposit and withdrawal services starting at the specified time. The exchange has not yet provided an exact end time for the maintenance, but such upgrades typically take several hours to complete. Users are advised to complete any pending transactions before the cutoff to avoid delays. Why Network Upgrades Matter Network upgrades are routine but critical events for blockchain-based projects. They often introduce improvements in security, scalability, or functionality. For XPLA, a blockchain focused on gaming and metaverse applications, this upgrade could bring enhanced performance or new features. Exchanges like Bithumb must temporarily suspend services to ensure that the upgraded network operates correctly and that user funds are protected during the transition. Impact on XPLA Traders and Holders For traders and holders of XPLA on Bithumb, the suspension means that they will not be able to move tokens in or out of the exchange during the maintenance window. However, trading within the exchange may continue as normal, depending on Bithumb’s specific policies. Users should monitor Bithumb’s announcements for updates on when services will resume. Bithumb’s Track Record with Maintenance Bithumb is one of South Korea’s largest and most established cryptocurrency exchanges. It has a history of conducting scheduled maintenance transparently, often providing advance notice and clear timelines. This practice helps maintain user trust and ensures compliance with local regulatory expectations. Conclusion The temporary suspension of XPLA deposits and withdrawals on Bithumb is a standard operational measure to support a network upgrade. While it may cause short-term inconvenience, it is a necessary step to maintain the security and functionality of the XPLA blockchain. Users are encouraged to stay updated through Bithumb’s official channels for the exact resumption time. FAQs Q1: When does the XPLA suspension start on Bithumb? The suspension begins at 3:00 a.m. UTC on May 13. Q2: Will trading of XPLA be affected during the suspension? Only deposits and withdrawals are suspended. Trading may continue, but users should verify with Bithumb’s official notice. Q3: How long will the suspension last? Bithumb has not announced a specific end time. Users should watch for updates after the upgrade is completed. This post Bithumb to Halt XPLA Deposits and Withdrawals for Network Upgrade first appeared on BitcoinWorld .
11 May 2026, 03:18
Ethereum Price Tries To Extend Gains, $2,420 Stands In The Way
Ethereum price started a fresh increase above the $2,320 zone. ETH is now consolidating and might struggle to continue higher above the $2,385 resistance. Ethereum started a decent upward move from the $2,265 zone. The price is trading above $2,320 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $2,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,300 zone. Ethereum Price Faces Hurdles Ethereum price remained bid above the $2,265 support zone, like Bitcoin . ETH price formed a base and started a recovery wave above the $2,300 resistance. The price surpassed the 50% Fib retracement level of the downward move from the $2,423 swing high to the $2,265 low. The bulls even pushed the price toward $2,380. Besides, there is a bullish trend line forming with support at $2,320 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,320 and the 100-hourly Simple Moving Average . If the bulls remain in action above $2,320, the price could attempt another increase. Immediate resistance is seen near the $2,385 level or the 76.4% Fib retracement level of the downward move from the $2,423 swing high to the $2,265 low. The first key resistance is near the $2,400 level. The next major resistance is near the $2,420 level. A clear move above the $2,420 resistance might send the price toward the $2,480 resistance. An upside break above the $2,480 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,550 resistance zone or even $2,565 in the near term. Another Drop In ETH? If Ethereum fails to clear the $2,385 resistance, it could start a fresh decline. Initial support on the downside is near the $2,320 level. The first major support sits near the $2,300 zone. A clear move below the $2,300 support might push the price toward the $2,265 support. Any more losses might send the price toward the $2,220 region. The main support could be $2,200. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,300 Major Resistance Level – $2,385
11 May 2026, 03:03
Garrett Jin-linked wallet sends $1.35B in ETH to Binance as ETF outflows pile on
A crypto wallet linked to Garrett Jin (also known as @GarrettBullish on X), former BitForex CEO, has moved about 577,000 ETH ($1.35 billion) to Binance over the past few days, according to data from Lookonchain. The most recent transaction of 225,627 ETH ($526.59 million) hit Binance a few hours ago. The cumulative transfer rank among the largest publicly tracked ETH inflows to Binance in months. This is insane! Garrett Jin( #BitcoinOG1011short ) has deposited his remaining 225,627 $ETH ($528.19M) into #Binance . In just 4 days, he deposited all 577,896 $ETH ($1.35B) into Binance. Most of these $ETH were swapped from $BTC 8 months ago, when $ETH was trading at $4,591. He… pic.twitter.com/1eLE0LUIgo — Lookonchain (@lookonchain) May 10, 2026 Jin’s address is tracked publicly as #BitcoinOG1011short. What makes the inflow significant? Per CryptoQuant , large crypto inflows into centralized exchanges have preceded short-term selling pressure and elevated volatility. “It reflects the intent of investors; whether they want to sell or convert holdings to fiat or stablecoins.” As Cryptopolitan reported earlier, Garrett Jin drew attention in February for similar large-scale ETH deposits during the broader market downturn. On February 15, wallets linked to Jin deposited 261,024 ETH ($543 million) to Binance in multiple transfers. He has moved funds between Bitcoin (BTC) and Ether (ETH) positions several times in 2026. On February 5, on-chain reports showed that Jin withdrew 80,000 ETh from Binance. Later that month, he sold 5,000 BTC. Although it is important to mention that deposits alone, as in this case, do not confirm spot sales. Wallets often transfer to exchanges for a number of reasons, including portfolio repostioning or hedging, rather than outright liquidation. ETF outflows compound the supply pressure Gareth Bullish transfers did not arrive in isolation. BlackRock’s iShares Ethereum Trust sent 11,475 ETH worth $26.27 million to Coinbase Prime hours before Jin’s deposit. Fidelity followed with 23,919 ETH worth $54.44 million within the next hour. Both BlackRock and Fidelity are selling $ETH ! BlackRock deposited 11,475 $ETH ($26.27M) into Coinbase Prime 3 hours ago. Fidelity deposited 23,919 $ETH ($54.44M) into Coinbase Prime in the past hour. https://t.co/8bR4bqlCRC https://t.co/qmuDIrPHc6 pic.twitter.com/0b0LGnICAm — Lookonchain (@lookonchain) May 8, 2026 ETF deposits to Coinbase Prime do not always translate into spot sales since issuers regularly use the platform for redemption baskets, custody shifts, and authorized participant flows. Even so, the timing amplified market concern. The moves coincided with $103.51 million in net outflows from US spot Ether ETFs on May 7. Fidelity’s FETH led redemptions at $62.26 million, followed by BlackRock’s ETHA at $26.31 million. The back-to-back large-scale exchange deposits from one of the most-watched wallets in crypto and ETF outflows gave bearish traders fresh ammunition heading into the week. Who Garrett Jin is and why this matters Jin, who also operates publicly on X as @GarrettBullish, was CEO of the cryptocurrency exchange BitForex from 2017 to 2020. The exchange later collapsed in early 2024 amid allegations of mishandling user funds and fraudulent trading volumes, with $57 million in hot wallet funds lost. Jin’s reputation grew further in October 2025 after on-chain investigators linked his wallet to a $735 million BTC short minutes before a major market crash triggered by tariff-related volatility. He denied insider trading allegations, stating that the funds belonged to clients and the short position was used for hedging. Jin still holds approximately 303,618 ETH (worth about $692.5 million) and 9,343 BTC (worth roughly $757 million) at current market prices. It is not yet clear from on-chain data whether the latest deposits point to spot selling, hedging, or portfolio rebalancing. As of now, traders are watching Binance order books, ETH spot flows, and derivatives positioning for signs that the deposits actually translate into actual sell pressure. If you're reading this, you’re already ahead. Stay there with our newsletter .
11 May 2026, 02:51
Bitcoin Price Gains Renewed Strength, Market Eyes Bullish Breakout
Bitcoin price started a fresh increase and cleared the $81,500 zone. BTC is consolidating and might aim for more gains above the $82,450 level. Bitcoin managed to stay above $79,200 and started a fresh increase. The price is trading above $80,750 and the 100 hourly simple moving average. There is a bullish trend line forming with support at $80,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend gains if it stays above the $80,800 and $80,000 levels. Bitcoin Price Turns Positive Bitcoin price found support near $79,200 and started a fresh increase . BTC gained pace for a move above the $79,750 and $80,200 resistance levels. The bulls even pushed the price above $82,000. A high was formed at $82,436, and the price started a consolidation phase. There was a minor decline toward the 23.6% Fib retracement level of the upward move from the $79,168 swing low to the $82,436 high. Bitcoin is now trading above $80,750 and the 100 hourly simple moving average . There is also a bullish trend line forming with support at $80,800 on the hourly chart of the BTC/USD pair. If the price remains stable above $80,500, it could attempt a fresh increase. Immediate resistance is near the $82,000 level. The first key resistance is near the $82,450 level. A close above the $82,450 resistance might send the price further higher. In the stated case, the price could rise and test the $83,200 resistance. Any more gains might send the price toward the $84,000 level. The next barrier for the bulls could be $85,000. Downside Correction In BTC? If Bitcoin fails to rise above the $82,000 resistance zone, it could start another decline. Immediate support is near the $80,800 level and the trend line. The first major support is near the $80,400 level or the 61.8% Fib retracement level of the upward move from the $79,168 swing low to the $82,436 high. The next support is now near the $79,950 zone. Any more losses might send the price toward the $79,250 support in the near term. The main support now sits at $78,500, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $80,800, followed by $80,000. Major Resistance Levels – $82,000 and $82,450.
11 May 2026, 02:50
Japanese Yen Slides Against Firmer USD as Iran Tensions Escalate; Intervention Risks Loom
BitcoinWorld Japanese Yen Slides Against Firmer USD as Iran Tensions Escalate; Intervention Risks Loom The Japanese yen weakened against a broadly stronger US dollar on Tuesday, pressured by escalating geopolitical tensions in the Middle East following renewed hostilities involving Iran. The move pushed the USD/JPY pair higher, though persistent intervention risks from Japanese authorities limited further depreciation. Geopolitical Tensions Drive Safe-Haven Demand for USD Renewed military action and heightened rhetoric between Iran and regional actors triggered a flight to safety in global markets. The US dollar, traditionally a primary safe-haven currency, benefited from the uncertainty, drawing capital away from risk-sensitive assets and currencies like the yen. The yen, despite its own safe-haven status, has been under sustained pressure due to the wide interest rate differential between Japan and the United States. Market participants noted that the yen’s decline was more pronounced against the dollar than against other major currencies, reflecting the greenback’s broad strength. The USD/JPY pair rose to the mid-151 range during Asian trading, approaching levels that have previously prompted verbal warnings and actual intervention from Japan’s Ministry of Finance. Intervention Risks Cap Yen Weakness Japanese officials have repeatedly signaled their readiness to intervene in the foreign exchange market to counter disorderly and speculative movements. Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda have both issued warnings in recent weeks, emphasizing that authorities are watching currency moves with a high sense of urgency. These warnings have created a cautious environment for traders, who are wary of pushing the yen too far too fast. The 152 level is widely viewed as a potential trigger point for intervention, similar to the pattern seen in late 2023 when Japan stepped in to support its currency. As a result, while the yen remains under pressure, the pace of depreciation has been moderated by the constant threat of official action. Market Implications and Outlook The combination of geopolitical risk and intervention risk presents a complex outlook for USD/JPY. On one hand, any further escalation in Iran-related tensions could drive the dollar higher, pushing the pair toward the 152 threshold. On the other hand, traders must weigh the risk of sudden, sharp yen strengthening if Japanese authorities decide to intervene. Beyond geopolitics, the focus remains on the Bank of Japan’s monetary policy path. The BOJ has begun to normalize policy, but the pace remains gradual, keeping the yield gap with the US wide. This structural factor continues to underpin yen weakness, making any intervention a potential temporary fix rather than a long-term solution. Conclusion The Japanese yen’s slide against the US dollar reflects a market caught between escalating Middle East tensions and the persistent threat of official intervention. While the dollar’s safe-haven appeal is likely to persist in the near term, traders remain cautious of triggering a response from Tokyo. The evolving geopolitical situation and upcoming US economic data will be key factors determining whether the yen can stabilize or faces further losses. FAQs Q1: Why is the Japanese yen weakening despite geopolitical tensions? The yen is weakening primarily due to the wide interest rate differential between Japan and the US. While the yen is a safe-haven currency, the US dollar is currently attracting more safe-haven flows because of higher yields and its status as the world’s primary reserve currency. Q2: What level might trigger Japanese intervention in the forex market? While Japanese authorities do not specify exact levels, the 152 level on USD/JPY is widely considered a potential trigger point, similar to the intervention seen in late 2023. Traders are cautious near this threshold. Q3: How do Iran tensions affect the USD/JPY pair? Escalating tensions in the Middle East increase demand for safe-haven assets. The US dollar benefits from this flight to safety, pushing USD/JPY higher. However, the yen’s own safe-haven status and intervention risks create a counterbalance that limits the pair’s upside. This post Japanese Yen Slides Against Firmer USD as Iran Tensions Escalate; Intervention Risks Loom first appeared on BitcoinWorld .
