Justin Sun of Tron Gathers Over Half a Billion Dollars in Ethereum Amidst Cryptocurrency Market Shift: An Examination by Lookonchain
According to blockchain-tracking service Lookonchain. Tron’s founder has been acquiring substantial amounts of Ethereum amidst the ongoing correction in the crypto market.
Since April 8th, Justin Sun has amassed 176,117 ETH, valued at $559.7 million at an average price of approximately $3,170 per token. Recently, a wallet address linked to Sun withdrew 7,128 ETH ($22.34 million) from Binance. Adding to his previous purchases totaling $492.23 million in ETH since April 8th. Additionally, another address potentially associated with Sun withdrew $96 million in Tether (USDT) and $23.3 million in Ethereum from Binance on April 27th. This activity suggests a shift to a new wallet strategy.
Currently, Ethereum is priced at $3,204, marking a 3.4% decrease in the past 24 hours. Sun’s crypto holdings also include 28,613 Bitcoin (BTC) worth over $1.622 billion on the HTX exchange.
Clever Robot News Desk 30th April 2024
