Tron (TRX) founder Justin Sun, one of the notable names of the cryptocurrency industry with his investments and statements, came to the fore again with his Ethereum moves.
At this point, Sun, who purchased Ethereum many times during the year, took advantage of the recent declines and purchased ETH again.
According to Spot on Chain's post, a wallet believed to belong to Justin Sun received 4,629 ETH ($16.07 million) from Binance at $3,472.
According to the data, this wallet overall attracted 13,967 ETH (worth $48.8 million) from Binance in the last 3 days at an average price of $3,494.
Justin Sun had sold $21 million worth of AAVE, MKR, COMP and LQTY to Binance in recent weeks.
Wallet 0xdbf (likely #JustinSun) withdrew another 4,629 $ETH ($16.07M) from #Binance at $3,472 ~8hrs ago.
Overall, in the past 3 days, this wallet has withdrawn 13,967 $ETH ($48.8M) from Binance at an avg price of $3,494.
Follow @spotonchain and set alerts for the wallet now:… https://t.co/ozvNN9KVhL pic.twitter.com/eTbffY7b0H
— Spot On Chain (@spotonchain) June 24, 2024
Ethereum Accumulation Continues!
The Tron founder is not the only one evaluating the decline in Ethereum. Because, according to Spot on Chain's post, the ETH whale known as czsamsunsb.eth also made purchases.
Accordingly, czsamsunsb.eth withdrew 8,310 ETH (worth $28.3 million) from Binance.
This whale earned 193 ETH (~$600k) in just 4 hours from liquid staking protocol Renzo last April.
Pointing out that in the past 24 hours, whales and major players of the market (Justin Sun) have accumulated ETH despite the current decline, analysts stated that their optimism about the rumors that the spot Ethereum ETF will be launched in early July may play a role in this accumulation.
Ethereum continues to trade at $3,317 at the time of writing.
*This is not investment advice.
