Withdrawal of 14,884 ETH by Justin Sun from Binance Brings His Total Holdings of Ethereum Nearly 400K
Spot On Chain reports that Justin Sun, inventor of Tron, withdrew 14,884 ETH from the Binance exchange on Monday.
With this withdrawal, Justin's total Ether holdings, which he has been amassing since February, reach $35.97 million. With the addition, Justin's holdings of 392,474 ETH, originally valued at $995 million but now at an estimated $1.19 billion, have increased in value.
The Most Recent Deals Made by Justin Sun? Notice On Chain as the Source
He denies reports of his position's liquidation, calling them "false," on the same day as his departure. On Monday, when the price of ETH fell below $2,000, there were strong allegations that Justin Sun had liquidated almost $200 million worth of leveraged long holdings.
Leveraged trading strategies are not beneficial to the industry, according to Justin's Monday criticism.
The total value of Justin's Tether (USDT) deposits to HTX during the last three days is $49 million.
After a Drop in Value, Ethereum Climbs Back Up to Over $2,500
After suffering its biggest 24-hour drop since 2024, the cryptocurrency market is gradually recovering today. Ethereum reached $2,525 and Bitcoin reached $56,000.
Ethereum reached a new daily high of about $2,547 after gaining a critical support level and rallying over 10%.
On Monday, major global stock indices also plummeted, along with the cryptocurrency sector. As a result, the fear and greed index for Ethereum has plummeted to 17%, signifying severe worry.
But on-chain data analysis showed that whale investors like Justin Sun had taken advantage of the situation and pulled their Ether out.
At the same moment, while this article was being written, Ethereum was trading at $2,503.
On Monday, a net inflow of around $1.64 million was recorded by the newly authorized spot Ether ETFs headquartered in the US. Both Fidelity's FETH and VanEck's ETHV are at the front of this pack.
#BTCMarketPanic #ETH_ETFs_Approval_Predictions #Binance @JustinSun $ETH
