Tron Founder Justin Sun Accrues Massive Ethereum Holdings Amid Market Fluctuations
A recent report from blockchain tracker Lookonchain reveals significant Ethereum acquisitions by Tron founder Justin Sun as the crypto market experiences turbulence. Here are the key takeaways:
Sun’s Ethereum Accumulation
- Since April 8th, Justin Sun has amassed 176,117 ETH, valued at $559.7 million.
- The average purchase price per token was approximately $3,170.
Liquidity Movements
- An identified wallet linked to Sun withdrew 7,128 ETH ($22.34 million) from Binance recently.
- Previously, the same wallet invested $492.23 million in 154,570 ETH since April 8th.
- Another wallet reportedly withdrew $96 million in USDT and $23.3 million in ETH from Binance on April 27th.
- Speculation arose on whether Sun adopted a new wallet based on transaction behavior.
Bitcoin Holdings Disclosure
- Sun confirmed ownership of 28,613 BTC worth over $1.622 billion on HTX (Huobi’s former name).
- This announcement followed criticism regarding his platform activity on HTX.
Ethereum’s current trading price stands at $3,204, reflecting a 3.4% drop within the last 24 hours.
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