Justin Sun, the founder of Tron (TRX), has been buying up Ethereum (ETH) worth hundreds of millions of dollars as the crypto market experiences a correction.
Accumulating Ethereum
According to blockchain-tracking service Lookonchain, Sun has acquired 176,117 ETH, valued at approximately $559.7 million, since April 8th. This represents an average purchase price of $3,170 per token.
Possible Withdrawals from Binance
Last week, Lookonchain identified a wallet address potentially linked to Sun withdrawing thousands of ETH from the crypto exchange Binance. The platform also noted previous withdrawals of Tether (USDT) and Ethereum from Binance by another address possibly associated with Sun.
Ethereum’s Current Value
Ethereum is currently trading at $3,204, down 3.4% in the past 24 hours.
Sun’s Bitcoin Holdings
In February, Sun revealed that he holds 28,613 Bitcoin (BTC), worth over $1.622 billion at the time, on the crypto exchange HTX.
