A New Whale Emerges
A mysterious Ethereum whale has been on a buying spree, snatching up over $405 million worth of ETH since March 31st.
Justin Sun Connection?
The blockchain research firm Lookonchain suspects that the whale may be none other than Tron founder Justin Sun. This is based on similarities in activity between the whale’s address and an address previously linked to Sun.
Massive Purchases
From April 8th to 20th, the whale bought a whopping 127,388 ETH, spending around $405.19 million.
Sun’s Alleged Spree
This activity is similar to a previous buying spree by an address allegedly owned by Sun. In February, that address acquired 168,396 ETH for $580.5 million.
Ethereum Price Impact
The whale’s accumulation has coincided with a recovery in Ethereum’s price. After dipping to $2,865 on Friday, ETH has regained the $3,100 support level and is currently trading at $3,192.
