Justin Sun Deposits $146M in ETH Amid Ethereum’s Rally Towards $4,000
Justin Sun’s team transferred 41,630 ETH ($146M) to centralized exchanges.
Major deposits include 39,000 ETH to HTX and 2,630 ETH to Poloniex.
Ethereum eyes $4,000 after surpassing $3,800, with resistance at $3,920.
Tron founder Justin Sun has drawn attention by moving 41,630 ETH, valued at $146 million, into centralized exchanges following Ethereum’s 60% rally in the past month. The bulk of these funds—39,000 ETH ($137 million)—went to HTX, while 2,630 ETH ($8.76 million) was sent to Poloniex.
Interestingly, these deposits occurred at an average price of $3,505, raising questions about the timing. Just 8 hours ago, Sun moved another 20,000 ETH ($76.3 million) to HTX as Ethereum crossed $3,800.
Possible Motives
Speculation abounds regarding the purpose of these transfers. Some suggest Sun is securing liquidity or preparing for a major trade, while others see this as a strategic alignment with Ethereum’s price surge.
The heavy focus on HTX also raises questions about the exchange's role in Sun’s strategy—possibly a vote of confidence or a precursor to larger plans.
Ethereum Price Analysis
Ethereum has shown resilience, breaking above $3,800 and nearing $3,895. Analysts see $3,920 and $3,950 as the next resistance levels. Clearing these could open the door to $4,000 or higher, potentially reaching $4,050 or $4,120.
However, failure to surpass $3,920 might lead to a pullback, with support at $3,800, $3,750, or even $3,600.
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