🚀💥 Justin Sun shakes up the market with a $35.97M Ethereum trade! 💥🚀
Tron founder Justin Sun continues to make headlines with impressive financial moves. According to SpotOnChain, Sun recently withdrew 14,884 ETH from Binance, valued at around $35.97 million. This withdrawal brings his Ethereum holdings to 392,474 ETH, acquired since February at an estimated cost of $1.19 billion, but currently valued at $995 million due to market volatility.
While Sun denies any rumors of liquidity issues or liquidation of his positions, his actions have raised questions. At the same time, he deposited 49 million USDT on the HTX platform, raising doubts about a potential additional Ethereum acquisition. On his X account, Sun clarified that he favors industry-supporting strategies, such as staking and node operations, over secure trading.
Meanwhile, Jump Trading has the crypto community worried with massive Ethereum selloffs. Since July 24, Jump Trading has withdrawn 606 million USDC from Binance and deposited 440 million on Coinbase. Additionally, the company converted 120,000 wstETH, worth $410 million, into Ethereum, transferring the sum to major exchanges like Binance and OKX. These actions are fueling speculation that Jump Trading could be selling off Ethereum.
These moves come amid significant fluctuations in the Ethereum market. The price of Ethereum was $2,526.44 at the time of writing, registering an increase of 8.78% over the last 24 hours, despite a decrease of 23.70% over the past week.
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