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In a recent revelation, a suspicious wallet, possibly linked to Tron founder Justin Sun, has carried out a series of ETH transactions that have caught the attention of the crypto market. According to reports from Lookonchain, the wallet in question has acquired a total of 168,369 ETH, valued at approximately $487 million, in just two weeks. These operations have left the crypto community wondering about Sun’s connection to these financial movements.
Possible Justin Sun Wallet Has Purchased $168,369 ETH: Details
The first transaction that attracted attention was the purchase of 13,780 ETH, equivalent to $41.24 million, from the popular Binance exchange in the last 12 hours. This movement is in addition to previous purchases, highlighting an acquisition of 18,616 ETH ($54.57M) on February 23, along with two others made on February 21 and 19. The coincidence between these purchases and the sustained growth of the price of Ethereum, exceeding $3,000, does not go unnoticed.
The suspected #JustinSun wallet bought 18,616 $ETH($54.57M) from #Binance again 10 mins ago.
— Lookonchain (@lookonchain) February 23, 2024
He bought 151,196 $ETH($435.3M) at $2,879 from #Binance and #DEX in less than 12 days!😱https://t.co/pq40KOW7Fi pic.twitter.com/1aZjvWCnvB
Despite growing media attention, Justin Sun has neither confirmed nor denied his involvement in these transactions, which adds a layer of mystery to the situation. This silence on the part of the founder of Tron has generated speculation about his possible role in these financial movements.
Ethereum Price Soars: Coincidence or Strategy?
The increase in the frequency and magnitude of these purchases has coincided with a notable increase in the price of ETH. Currently trading at $3,153, ETH has seen an increase of 3.1% in the last 24 hours and a staggering 39.2% in the last month. With an impressive 96.8% growth in the last year, Ether’s bullish trajectory remains a hot topic among investors and industry experts.
Justin Sun in the eye of the storm
These million-dollar operations occur at a time when Justin Sun has gained notoriety in the cryptocurrency market. The “Discover Crypto” YouTube channel has speculated on the possibility of the Sun-led HTX exchange becoming the next FTX. These events unfold amid controversies and scandals allegedly associated with Justin Sun, adding more layers of intrigue to the story.
