According to Odaily, a suspected address linked to Sun Yuchen has reportedly purchased 13,967 Ethereum (ETH) between June 21 and June 24. Since December 2023, the number of ETH held by this address has increased to 410,066, with a total value of 1.4 billion USD. The average purchase price of these holdings is reported to be 3015 USD per ETH.
The address in question, 0xDBf...28Ec8, has been under observation by on-chain analysts, who have been tracking its activities. The significant increase in ETH holdings suggests a strong confidence in the potential of Ethereum. However, it is important to note that the identity of the address owner has not been officially confirmed as Sun Yuchen.
This news comes amidst a period of increased activity and interest in the Ethereum network, which has seen significant growth and development over the past year. The purchase of such a large amount of ETH by a single address could potentially have a significant impact on the market, depending on the future actions of the address owner.
