ETH moves came from Tron (TRX) founder Justin Sun and Ethereum (ETH) co-founder Vitalik Buterin, two names who have made a name for themselves with their transactions and critical moves in the cryptocurrency market.
First, Ethereum co-founder Buterin transferred $8.05 million worth of ETH to his multi-signature wallet.
Lookonchain stated in its post that Vitalik Buterin transferred 3,000 ETH ($8.05 million) to his multi-signature wallet and that this transaction was likely a donation.
Justin Sun Prepares to Sell Ethereum!
Secondly, an address believed to belong to Justin Sun deposited $43.41 million worth of ETH into HTX.
According to a post by on-chain analyst Ember CN, an address believed to belong to Tron founder Justin Sun deposited 16,236 ETH (worth around $43.41 million) to the HTX crypto exchange about an hour ago.
Later, 4,500 of these ETH were transferred from HTX to Binance. This address spent 37 million USDT to purchase ETH on August 5, with an average cost of 2,279.
As a result, this address earned $6.41 million in ETH transactions in 4 days, according to Ember CN.
“The address suspected to belong to Justin Sun (0x5ac…17e) transferred the ETH it bought at the bottom on August 5th to HTX 1 hour ago. Is this address preparing to take profit?
After the market crashed on August 5, this address spent 37 million USDT to purchase 16,236 ETH at an average price of $2,279.
1 hour ago, 16,236 ETH ($43.41 million) was transferred to HTX. Later, 4,500 ETH was transferred from HTX to Binance.
Compared to August 5, these ETHs gained $6.41 million (+17.3%) in value in 4 days.
Ethereum continues to trade at $2,671 at the time of writing.
*This is not investment advice.