Alert! Ethereum fell, Justin Sun sold $143 million of ETH! Come and see what happened!
The crypto market has been bearish recently. Ethereum has had a tough week, and Justin Sun seems to have gotten involved. Justin Sun, the founder of TRON, is busy selling his Ethereum, and the market is in turmoil. Within a week, he sold $143 million worth of Ethereum, and he obviously has much less Ethereum in his hands. As soon as he sold, the price of Ethereum fell sharply. Friends in the community are wondering, what is he doing? Why did Ethereum fall so sharply? There are still many mysteries behind it.
Since November 10, Justin Sun has deposited 108,919 Ethereum in HTX (formerly Huobi), which is about $400 million at the current price. Most of these deposits were made when the price was about to reach its peak, with an average of $3,674 per Ethereum. Experts on the blockchain also found that Justin Sun recently unstaked 42,904 Ethereum from Lido Finance, worth $139 million. Everyone guessed that he might move the money to HTX. With so many moves, how can the staking price of Ethereum not be under pressure!
The price of Ethereum is really heartbreaking. It is now trading at only $3,304. Since the last time it failed to reach $4,000, it has fallen by 17%. Yesterday alone, it fell another 2.19%. Trading volume also fell, down 8.57%. Market sentiment is really depressed, and most traders are bearish. Futures data shows that 54% of open trades are short positions, and the long-short ratio has reached 0.8495. However, it is not completely hopeless-78% of Ethereum holders are now profitable.
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