{"id":604645,"date":"2024-04-23T14:00:36","date_gmt":"2024-04-23T14:00:36","guid":{"rendered":"https:\/\/wncen.com\/?p=604645"},"modified":"2024-04-23T10:58:56","modified_gmt":"2024-04-23T10:58:56","slug":"ethereum-justin-sun-127388-eth","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-justin-sun-127388-eth\/","title":{"rendered":"Ethereum Resurgence: TRON Founder Justin Sun Goes On 127,388 ETH Buying Spree"},"content":{"rendered":"

The second-largest crypto token by market cap, <\/span>Ethereum (ETH)<\/span><\/a>, looks set to make a massive market recovery following recent buys suspected to be made by <\/span>Tron\u2019s founder, Justin Sun<\/span><\/a>. Sun’s accumulation spree again highlights crypto whales’ recent bullishness on Ethereum despite fluctuating prices.\u00a0<\/span><\/p>\n

Sun Allegedly Buys $405 Million Worth Of ETH<\/h2>\n

In an X (formerly Twitter) <\/span>post<\/span><\/a>, the on-chain analytics platform Lookonchain drew the crypto community\u2019s attention to a mysterious wallet suspected to belong to Justin Sun. This wallet is said to have bought 127,388 ETH ($405.19 million) from Binance and <\/span>decentralized exchanges (DEXs)<\/span><\/a> since April 8 at an average price of $3,127.\u00a0\u00a0<\/span><\/p>\n

Related Reading: Brazil Wants BTC: 7,400 Bitcoin Futures Contracts Created On First Day Of Trading<\/a><\/div>\n

\n\"Ethereum<\/p>\n

Source: Etherscan<\/pre>\n
Meanwhile, Lookonchain tried to prove further its theory that this wallet likely belonged to Justin Sun. The platform alluded to a previous tweet mentioning that a <\/span>suspected Justin Sun wallet bought<\/span><\/a> 168,369 ETH at $2,894 from Binance and a DEX between February 12 and 24. It noted that the \u201ctransaction behavior\u201d of both wallets was similar, which suggests that they are both likely owned by Justin Sun.\u00a0<\/span><\/p>\n
If indeed both wallets are owned by Justin Sun, that means the <\/span>Tron founder<\/span><\/a> has accumulated 295,757 ETH ($891 million) at an average price of $3,014 since February 12. Like every <\/span>whale activity<\/span><\/a>, Sun\u2019s alleged transactions have caught the crypto community’s attention, with many wondering why he is gaining so much exposure to the second-largest crypto token.\u00a0<\/span><\/p>\n
Ethereum Whales Are Bullish<\/h2>\n
Sun\u2019s actions highlighted the bullish sentiment that <\/span>Ethereum whales<\/span><\/a> have towards the crypto token despite its recent unimpressive price action. Bitcoinist <\/span>recently reported<\/span><\/a> about an Ethereum whale who, despite already losing $4.5 million, opened <\/span>another long position<\/span><\/a> on the second-largest crypto token.\u00a0<\/span><\/p>\n
Related Reading: Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here\u2019s The Target<\/a><\/div>\n
This whale also borrowed 17.3 million USDT just to increase their exposure to the crypto token. In a recent <\/span>X post<\/span><\/a>, Lookonchain again highlighted how <\/span>Ethereum whales<\/span><\/a> are still making bullish moves in the market. On-chain data shows a fresh wallet (0x9EB0) that <\/span>withdrew<\/span><\/a> 7,182 ETH ($23.06 million) from Binance, which suggests long-term holding by this whale.\u00a0<\/span><\/p>\n
Another wallet (0x1958) <\/span>withdrew<\/span><\/a> 5,181 ETH ($16.28 million) from Binance and put their ETH holdings to work by staking it into Bedrock and <\/span>Pendle<\/span><\/a> while anticipating further price gains in the crypto token.<\/span><\/p>\n
Such bullish sentiment towards Ethereum could be good for ETH\u2019s price as whales are known to have a significant impact on a token\u2019s price discovery. It could also prove crucial during this period when Ethereum is experiencing <\/span>declining network growth<\/span><\/a>, which means that the rate at which new users come into the ecosystem has slowed.\u00a0<\/span><\/p>\n
At the time of writing, Ethereum is trading at around $3,170, down over 1% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n
\"Ethereum<\/p>\n
ETH price moves toward $3,200 | Source: ETHUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from Bitcoin News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The second-largest crypto token by market cap, Ethereum (ETH), looks set to make a massive market recovery following recent buys suspected to be made by Tron\u2019s founder, Justin Sun. Sun’s accumulation spree again highlights crypto whales’ recent bullishness on Ethereum despite fluctuating prices.\u00a0 Sun Allegedly Buys $405 Million Worth Of ETH In an X (formerly Twitter) post, the on-chain analytics platform Lookonchain drew the crypto community\u2019s attention to a mysterious wallet suspected to belong to Justin Sun. This wallet is said to have bought 127,388 ETH ($405.19 million) from Binance and decentralized exchanges (DEXs) since April 8 at an average price of $3,127.\u00a0\u00a0 Related Reading: Brazil Wants BTC: 7,400 Bitcoin Futures Contracts Created On First Day Of Trading Source: Etherscan Meanwhile, Lookonchain tried to prove further its theory that this wallet likely belonged to Justin Sun. The platform alluded to a previous tweet mentioning that a suspected Justin Sun wallet bought 168,369 ETH at $2,894 from Binance and a DEX between February 12 and 24. It noted that the \u201ctransaction behavior\u201d of both wallets was similar, which suggests that they are both likely owned by Justin Sun.\u00a0 If indeed both wallets are owned by Justin Sun, that means the Tron founder has accumulated 295,757 ETH ($891 million) at an average price of $3,014 since February 12. Like every whale activity, Sun\u2019s alleged transactions have caught the crypto community’s attention, with many wondering why he is gaining so much exposure to the second-largest crypto token.\u00a0 Ethereum Whales Are Bullish Sun\u2019s actions highlighted the bullish sentiment that Ethereum whales have towards the crypto token despite its recent unimpressive price action. Bitcoinist recently reported about an Ethereum whale who, despite already losing $4.5 million, opened another long position on the second-largest crypto token.\u00a0 Related Reading: Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here\u2019s The Target This whale also borrowed 17.3 million USDT just to increase their exposure to the crypto token. In a recent X post, Lookonchain again highlighted how Ethereum whales are still making bullish moves in the market. On-chain data shows a fresh wallet (0x9EB0) that withdrew 7,182 ETH ($23.06 million) from Binance, which suggests long-term holding by this whale.\u00a0 Another wallet (0x1958) withdrew 5,181 ETH ($16.28 million) from Binance and put their ETH holdings to work by staking it into Bedrock and Pendle while anticipating further price gains in the crypto token. Such bullish sentiment towards Ethereum could be good for ETH\u2019s price as whales are known to have a significant impact on a token\u2019s price discovery. It could also prove crucial during this period when Ethereum is experiencing declining network growth, which means that the rate at which new users come into the ecosystem has slowed.\u00a0 At the time of writing, Ethereum is trading at around $3,170, down over 1% in the last 24 hours, according to data from CoinMarketCap.\u00a0 ETH price moves toward $3,200 | Source: ETHUSDT on Tradingview.com Featured image from Bitcoin News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":604659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,7931,6931,8686,78803],"class_list":["post-604645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Resurgence: TRON Founder Justin Sun Goes On 127,388 ETH Buying Spree<\/title>\n<meta name=\"description\" content=\"The second-largest crypto token by market cap, Ethereum (ETH), looks set to make a massive market recovery following recent buys.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Resurgence: TRON Founder Justin Sun Goes On 127,388 ETH Buying Spree","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-justin-sun-127388-eth\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-justin-sun-127388-eth\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Justin-Sun-Ethereum.jpeg?resize=200%2C168","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Justin-Sun-Ethereum.jpeg?fit=300%2C168"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth news","eth price","ethereum","ethereum news","ethereum price","ethusd","ethusdt"],"dateCreated":"2024-04-23T14:00:36Z","datePublished":"2024-04-23T14:00:36Z","dateModified":"2024-04-23T14:00:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Resurgence: TRON Founder Justin Sun Goes On 127,388 ETH Buying Spree\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-justin-sun-127388-eth\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-justin-sun-127388-eth\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Justin-Sun-Ethereum.jpeg?resize=200%2C168\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Justin-Sun-Ethereum.jpeg?fit=300%2C168\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth news\",\"eth price\",\"ethereum\",\"ethereum news\",\"ethereum price\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2024-04-23T14:00:36Z\",\"datePublished\":\"2024-04-23T14:00:36Z\",\"dateModified\":\"2024-04-23T14:00:36Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Justin-Sun-Ethereum.jpeg?fit=300%2C168","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/604645"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=604645"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/604645\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/604659"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=604645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=604645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=604645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}