$ETH Justin Sun's denial of the rumors about selling off his Ethereum holdings could help alleviate short-term market concerns about ETH. Rumors of large-scale sell-offs often create fear among investors, potentially leading to significant price drops due to selling pressure. However, Sun clarified that the transactions in question were merely internal transfers between wallets managed by his team and reaffirmed his long-term optimism for the Ethereum ecosystem. This statement may restore investor confidence, supporting ETH's price stability and potentially driving upward momentum in the long term due to renewed trust from major stakeholders.