TRON founder Justin Sun has attracted attention with his large Ethereum (ETH) transfers.
According to Spot On Chain data, over the past week, Justin Sun has withdrawn a total of 39,999 ETH (approximately $143 million) from Lido Finance and Etherfi platforms, depositing all of his assets into the HTX exchange (formerly Huobi).
This move is Ethereum$ETH
It stood out as part of a chain of large-scale transactions carried out during the period when prices began to rise.
Sun transferred a total of 108,919 ETH (about $400 million) to the HTX exchange as Ethereum surged starting on Nov. 10. These transactions coincided with periods when Ethereum was trading at an average of $3,674 and the price was typically near its peaks.
This suggests that Sun is trying to take advantage of market movements strategically.
Additionally, Sun still has 42,904 ETH ($139 million) unstaking on Lido Finance, and it is anticipated that these assets could also be transferred to the HTX exchange in the near future. These large transactions are being closely monitored by investors and analysts due to the potential impact they could have on the market.
While these developments spark an important discussion on how large-scale transactions can affect Ethereum price movements, Sun’s strategic steps provide an intriguing example for those following market dynamics.