• Justin Sun now owns $2.5 billion in Ethereum.

  • Sun’s ETH portfolio ranks among the largest in crypto.

  • He bought 390,000 ETH at an average price of $2,984.

Justin Sun, the founder of Tron, has emerged as a major holder of Ethereum (ETH), accumulating a significant stake valued at approximately $2.45 billion. This sizable portfolio, totaling 665,000 ETH, represents one of the largest holdings in the cryptocurrency sector. Sun’s recent buying spree, spanning from late 2023 to April 2024, has sparked widespread discussion within the crypto community regarding its potential impact on the market.

Sun’s acquisition strategy involved a series of transactions executed across different platforms. Notably, he secured 390,000 ETH at an average price of $2,984 per ETH. From December 26, 2023, to January 5, 2024, Sun acquired 17,883 ETH at an average price of $2,262 each, primarily through centralized exchanges. Subsequently, between February 8 and 25, he purchased 173,863 ETH for $525.24 million, utilizing a combination of on-chain transactions and withdrawals from the address 0x7a9…095, at an average price of $2,869.

孙哥 Justin Sun 目前持有的 ETH 数量为 66.5 万枚 ($2.447B)，其中 39 万枚 ($1.435B) 是在 2023 年底至今年 4 月底期间以 $2,984 的均价买入。1⃣2023/12/26-1/5，通过 0x9fc…9fe 地址从 CEX 提出 17,883 ETH($40.45M)，均价 $2,262；2⃣2/8-2/25，通过 0x7a9…095 地址从 CEX… pic.twitter.com/QsWgwxBsSP

— 余烬 (@EmberCN) May 21, 2024

Sun’s activity intensified in April, with further withdrawals from Binance. He acquired 176,117 ETH at an average price of $3,138 and followed this by purchasing 22,316 ETH between April 27 and 29 at an average price of $3,244.

Sun’s holdings demonstrate a strategic approach. He maintains 247,000 ETH in wallets, while the remaining 417,000 ETH are actively staked across various platforms. This staking activity reflects Sun’s confidence in Ethereum’s long-term potential. Notably, his Ethereum stakes are distributed among several entities, including EigenLayer (215,217 ETH), Swell (120,139 ETH), Puffer (58,558 ETH), Lido (23,225 ETH), and Etherfi (454 ETH).

Sun’s significant Ethereum holdings, coupled with his active participation in staking, exemplify broader trends within the cryptocurrency market. These trends highlight the increasing involvement of institutional investors and high-net-worth individuals.

Furthermore, Sun’s actions coincide with recent market developments and technological advancements within the Ethereum network, which are expanding its use cases within the DeFi and NFT realm.

The post Tron’s Justin Sun Goes Big on ETH, Stakes $2.5 Billion (Here’s How He Did It!) appeared first on Coin Edition.