Tron founder Justin Sun's major sell-off, selling $143 million in Ethereum!

Justin Sun, the head of Tron (TRX), has recently quietly sold a lot of Ethereum, amounting to $143 million! This wave of sell-off has worsened market sentiment. Although just a few days ago, the price of ETH surged to $4,000, it has now dropped back to around $3,300.

Since November 10, 2024, Justin Sun has sold over 100,000 ETH, totaling nearly $400 million. Moreover, over 40,000 ETH will be unlocked on Lido Finance, which may lead to another wave of selling in the market.

Does this mean that the big players have lost confidence in the bull market?

With a big player like Justin Sun selling off, many people are beginning to question whether the market is failing. Some feel that the bull market may be cooling off, and new records will have to wait a long time. There are even rumors that the bull market has already ended!

Although ETH is still far from its all-time high, even the $3,000 mark is now in jeopardy. The next few weeks will be critical for altcoin leaders.

However, not everyone is selling. The wealthy big players, known as 'whales', have recently bought 340,000 ETH, spending over $1 billion! This happened within just 96 hours, with funds flowing from addresses holding between 10,000 to 100,000 ETH. Some analysts believe this could be a signal for a price increase.

Additionally, some experts remain optimistic. For example, Guy Turner, the host of the popular Coin Bureau channel on YouTube, predicts that ETH could rise to $14,600, more than tripling in value!