IMPORTANT POINTS:
- Justin Sun, the founder of Tron, is believed to have purchased a significant amount of Ethereum tokens. Is it a whale?
- According to Lookonchain, the businessman purchased 127,388 ETH worth $405.19 million since April 8.
- Currently, ETH is recovering and up almost 1% to $3,200.
Justin Sun, the founder of Tron (TRX) and one of the most respected men in the crypto industry, would have bought a huge amount of Ethereum coins.
According to a post by on-chain data provider Lookonchain, a wallet purportedly belonging to Sun acquired 127,388 ETH worth $405.19 million since April 8.
The management’s movements indicate that some 787 million USDT were first deposited on Binance on the Tron network on March 31, the same day a wallet was created on the Ethereum network.
That same wallet, believed to be owned by Sun, began purchasing ETH on the Binance and DEX exchanges, at an average price of $3,172.
This could be interpreted as an imminent bullish signal, just after the Bitcoin halving takes place.
Did #JustinSun buy 127,388 $ETH($405.19M) since Apr 8?
— Lookonchain (@lookonchain) April 22, 2024
The wallet suspected of being #JustinSun has deposited 787M $USDT to #Binance on #Tron since Mar 31.
Also on Mar 31, a mysterious wallet was created on #Ethereum and withdrew $96.8M stablecoins from #Binance.
Is this a… pic.twitter.com/OcEovodUrc
Ethereum Price
At the time of writing, ETH was up almost 1% at $3,200, accumulating a weekly loss of 1.4% and a year-to-date gain of 40.6%.
