The Market Is Shaking Due to Justin Sun's Massive Ethereum Play

Justin Sun, inventor of Tron, has just sparked new crypto market speculation by expressing his plan to purchase a large number of Ethereum.

The increase follows a time of instability; in the last 24 hours, Ethereum's price has jumped 2%, bringing it close to $4,000 on the market. Sun recently made headlines after selling off a sizable chunk of his Ethereum holdings, prompting speculation about the potential impact of his actions on the digital asset's price. This announcement comes after his massive selloff.

Sun plans to withdraw around 53,000 ETH, or about $209 million, from the staking site Lido, according to latest blockchain statistics. He reportedly already possesses 392,474 ETH, which he bought over the course of many months from February to August for around $1.19 billion. This would be a component of his larger goal to amass Ethereum.


Even though Sun lost about 30,000 ETH in the current selloff, his entire assets are still producing stellar returns, with an estimated return of $349 million—roughly 29% of his initial investment.

As the price of Ethereum keeps going up, many are wondering why Sun is acting at this particular time. The current price of ETH is $3,942 and an 11% increase in trading volume indicate that investors are becoming more bullish on the cryptocurrency. Many are wondering whether Sun intends to keep selling his Ethereum assets or if he will continue liquidating them.

Since his past activities have corresponded with market changes, there is worry that further sales might lead to a decline in Ethereum's price.

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