Mushmirbat
This transaction confirms Justin Sun's confidence in Ethereum's long-term potential.
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Recent developments in the cryptocurrency market have seen around $500 million worth of Ethereum (ETH) traded. transferred In a wallet linked to TRON founder Justin Sun. According to a tweet from Lookonchain, a prominent cryptocurrency analyst, Sun apparently withdrew 7,128 ETH worth $22.34 million from the Binance exchange.
The transaction was completed earlier today. Additionally, Lookonchain revealed that the TRON founder has purchased a staggering 154,570 ETH worth $492.23 million since April 8th at an average price of $3,177. Sun's big move in Ethereum not only drew attention to his trading activity, but also highlighted it. The bullish sentiment that large Ethereum holders, or “whales” maintain towards the cryptocurrency.
Impact on price
Ethereum has had a lackluster recent performance on the market, with its price currently trading at $3,134, down 3.48% in the past 24 hours. Whale Like Sun, it continues to express confidence in its long-term potential. It is worth noting that although the price of Ethereum fell slightly, the 24-hour trading volume increased by 30.11%, reaching a total of $14.57 billion.
This increase in trading volume suggests increased activity and interest in Ethereum among investors amid market volatility. Additionally, Justin Sun’s recent trades have further stimulated speculation and discussion within the community about the future direction of Ethereum and the broader market. As one of the most influential figures in the crypto industry, his Sun actions often serve as a barometer for the industry. market sentiment.
Overall, moving such a large amount of Ethereum into the wallets of some of the most prominent figures in the industry highlights the continued interest and investment in ETH despite recent price fluctuations. The actions of major companies like Justin Sun will undoubtedly continue to be a focus for market participants.
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Mushmirbat
