Ethereum eyes rebound as Justin Sun makes bullish move
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TRON founder Justin Sun has reportedly made a significant move with Ethereum . It comes at a crucial time as the broader cryptocurrency market is struggling after the recent crypto crash. Ethereum, like other digital currencies, is trying to initiate a rebound and recover its recent losses.14,884 ETH from crypto exchange Binance earlier today. This transaction is estimated to be worth around $35.97 million, as per the current ETH price.
This accumulation of Ethereum from Justin Sun is noteworthy. He is one of the most influential personalities in the industry, so his crypto purchase is likely to ignite a broader accumulation trend for ETH. Spot On Chain also revealed that Sun has deposited a net amount of 49 million USDT to the HTX exchange in the past three days. This move is likely indicating more On Monday, there was speculation in the market that Sun triggered an Ethereum sell-off and he also got liquidated.
Moreover, on chain data also supported Justin Sun’s claims as it has been revealed that he never sold his ETH holdings. Moreover, today’s Ethereum purchase is more proof for the community about Sun’s bullish stance on ETH. Consequently, the support of industry leaders like Sun is beneficial for Ethereum and the broader crypto industry.
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