Why is the price of Ethereum (ETH) falling?

The founder of the blockchain platform Tron, Justin Sun, recently made a large sale of Ethereum, which sparked serious discussions in the crypto community. Over the past week, he sold 50% of his assets in ETH, amounting to approximately $143 million. These actions took place against the backdrop of Ethereum's value dropping below the $4,000 mark.

According to the analytical platform Spot On Chain, Sun transferred 39,999 ETH from popular stable funds like Lido Finance and EtherFi to the cryptocurrency exchange HTX. This move intensified speculation about the entrepreneur's further intentions.

Sun's sharp sell-off also contributed to additional pressure on the Ethereum market. Over the past seven days, the cryptocurrency has lost 17% of its value and is currently trading at $3,304. Some analysts predict further price declines to below $3,000 in the near future.