Justin Sun’s ETH Accumulation
Tron founder Justin Sun has been on a buying spree, accumulating 127,388 ETH (over $400 million) since April 8th. This suggests that Sun is bullish on Ethereum despite its recent price fluctuations.
Sun’s Previous ETH Purchases
Lookonchain, an on-chain analytics platform, believes the wallet used in these purchases likely belongs to Sun. They point to a previous tweet where Sun bought 168,369 ETH in February. The similar transaction patterns suggest that both wallets may be owned by Sun.
Total ETH Accumulated
If both wallets belong to Sun, he has accumulated a total of 295,757 ETH (over $890 million) since February 12th. This significant investment has caught the attention of the crypto community.
Bullish Sentiment Among Ethereum Whales
Sun’s actions reflect the bullish sentiment among Ethereum whales. Despite the recent price decline, whales continue to accumulate ETH. Another whale recently borrowed $17.3 million to increase their ETH exposure.
Whales’ Impact on Price
Whales have a significant impact on token prices. Their bullish moves suggest that they believe Ethereum’s price will rise in the future. This sentiment could be crucial as Ethereum experiences declining network growth.
Current ETH Price
At the time of writing, Ethereum is trading around $3,170, down over 1% in the last 24 hours.
