Sun Ge has made another big move. Not long ago, Sun Ge was called a fool for this move.

As a result, he made a lot of money.

Amid the current market volatility, the price of Ethereum has performed strongly and stabilized at around $3,070. There is currently a lot of whale activity around Ethereum, and Tron founder Justin Sun is trying to absorb all selling pressure before the spot Ethereum ETF that is expected to be approved in the next two weeks.

According to on-chain data, Justin Sun spent a total of $5 million USDT to acquire 1,614 ETH at a price of $3,097 per share.

Since the beginning of the year, Justin Sun has been hoarding Ethereum like crazy. Spot on Chain reported that since February 8, Justin Sun has accumulated 362,751 ETH in three different wallets, with an estimated total investment of $1.1 billion and an average price of $3,047.

In addition to these purchases, Justin Sun recently deposited $45 million to Binance, indicating the possibility of acquiring Ethereum in the future.

Justin Sun has been buying Ethereum from exchanges, but there have also been a lot of ETH deposits happening recently. In the past 24 hours, the Golem project was one of the top ETH depositors on the cryptocurrency exchange Binance. However, on-chain data shows that they have reportedly stopped selling ETH while staking a total of 40,000 ETH.

In addition, Elwood Technologies has also deposited 26,811 ETH worth more than $84 million to the cryptocurrency exchange Binance in the past three days. However, some addresses associated with Elwood have also withdrawn 24,463 ETH from Binance in the same time.

As of now, despite such frequent whale activity, the ETH price remains firmly above $3,000.

Technical indicators suggest that Ethereum may have bottomed out.

So, now may be a good time to enter the market, just look for a wave of good points.

Finally, if you are a complete novice and you are excited to enter the cryptocurrency world after seeing BTC hit a record high, then I suggest you follow me first, learn the knowledge of the cryptocurrency world from me, and improve your basic skills. Only by laying a solid foundation can you go further.

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