Justin Sun Made More than $50 Million in Profit Thanks to the Leading Altcoin

Tron (TRX) founder Justin Sun has earned tens of millions of dollars thanks to his investments in the leading altcoin Ethereum (ETH).

According to information provided by the blockchain analysis platform Spot On Chain, Justin Sun withdrew 14 thousand 436 Ethereum (approximately 45.5 million dollars) from the Binance exchange.

Made tens of millions of dollars in profits

According to Spot On Chain's post, Justin Sun deposited 45 million USDT to Binance again last week. Based on prices at the time, he probably spent $3,117 per unit to buy Ethereum.

According to Spot On Chain, Justin Sun has purchased a total of 377,188 Ethereum since February 8, at an average price of $3,049 per unit. It is estimated that he made a profit of more than 50 million dollars thanks to these investments.

Ethereum has been on the rise along with Bitcoin and other cryptocurrencies in the past few days. According to CoinGecko data, the Ethereum price has increased by 15.2 percent in the last seven days.

The main thing that moved the cryptocurrency market was the assassination attempt on former US President Donald Trump over the weekend. Trump made statements supporting the cryptocurrency industry against his rival Joe Biden. After the assassination attempt, Polymarket's probability of Trump winning the presidential election increased to 70 percent.

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