Justin Sun, the founder of Tron, is taking advantage of the recent Ethereum rally. After Ethereum surged 29% on the heels of a major Bitcoin-led market advance, Sun cashed out a part of his Ether investment.
In addition to Justin and other individual traders, other institutional traders and dormant whales have also taken advantage of the recent price action. Ethereum is trading at the $3,100s level, hitting a high of $3,240.29 last November 11th. Sun started cashing out at $3,202, pushing his estimated profit to $69.36 million, reflecting a 5.69% increase.
Justin Sun Capitalizes On Recent Ethereum Surge
Justin Sun is patiently offloading some of his ETH holdings amid a more significant Ethereum and crypto market rally. On-chain data suggests that he has continuously invested in maximizing the digital asset’s price action. SpotOnChain reports that Tron’s founder initially deposited 19,000 ETH at $3,202 to HTX.
Justin Sun (@justinsuntron) appears to be cashing in on $ETH amid the latest market rally!
15 hours ago, he deposited the first 19,000 $ETH ($60.83M) to HTX at $3,202.
This was part of the net 392,474 $ETH he allegedly acquired at an average price of $3,027 (est. cost: $1.19B)… https://t.co/976PXgoJ80 pic.twitter.com/UCNpE0vnVp
— Spot On Chain (@spotonchain) November 11, 2024
Justin’s latest transaction at HTX pushed his estimated total profit to $69 million, or an increase of 5.70%. According to on-chain data, this tranche was part of the 392,474 tokens he acquired from February 8th to August 5th for $3,027 across three w
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Author: Christian Encila
