An Address Suspected of Justin Sun Acquires $160.7 Million in ETH: Is Ethereum on a Bullish Drive?
An address believed to be associated with Justin Sun recently purchased $160.7 million worth of ETH, potentially indicating a bullish interest in Ethereum. The transaction was carried out through the popular cryptocurrency exchange Binance and several decentralized exchanges (DEXs). This wallet, identified as “TWGHNc,” has drawn attention due to its significant transactions, including a withdrawal of 500 million USDT from HTX (formerly Huobi) and a deposit of 50 million USDT into Binance.
Parallel Activities and Speculation
- The “TWGHNc” wallet has been linked to another address, “0x7a95,” based on transaction patterns.
- On Feb. 7, TWGHNc deposited $5.4 million to HTX, followed by a similar ETH withdrawal by 0x7a95 from HTX.
- A 50 million USDT deposit to Binance by TWGHNc on Feb. 1 correlated with a subsequent 9,959 ETH withdrawal by 0x7a95 from Binance on Feb. 12.
These high-value transactions from HTX suggest that the wallet may belong to Justin Sun, although this is speculative at this point. If confirmed, it would signify Sun’s bullish interest in Ethereum as the founder of TRON.
Hot Take: Is Justin Sun’s ETH Acquisition a Sign of Bullish Sentiment for Ethereum?
The recent acquisition of $160.7 million in ETH by an address suspected to be owned by Justin Sun raises questions about his sentiment towards Ethereum. With transactions conducted through prominent exchanges like Binance and parallel activities with another address, it is worth considering the potential bullish drive Sun might have for Ethereum. While speculation surrounds the wallet’s true ownership, the significant transactions from HTX indicate a strong interest in Ethereum. As a crypto enthusiast, this development may be an exciting indicator for you, suggesting positive prospects for Ethereum’s future.
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