In the cryptocurrency world, notable moves and big gains continue to be on the agenda. Finally, Justin Sun, the famous blockchain entrepreneur and TRON creator behind the altcoin TRX, transferred 19,000 ETH (approximately $60.83 million) to the HTX platform, making a profit of approximately $69.36 million from this move. Here are the details…
TRON creator sold 19,000 ETH
Justin Sun recently transferred 19,000 ETH (approximately $60.83 million) to the HTX platform, making an estimated profit of $69.36 million. Sun transferred 19,000 ETH (worth approximately $60.83 million) to the HTX platform approximately 15 hours ago. The total profit he made from these transactions is estimated to be approximately $69.36 million. Sun started his investment by purchasing a total of 392,474 ETH from three different wallets between February 8 and August 5. Sun, who invested a total of $1.19 billion, bought each ETH for an average of $3,027 (according to Spot on Chain data).
Meanwhile, other Ethereum whales also took action. As we reported at Kriptokoin.com, other cryptos also rose up with Bitcoin breaking a record. The leading altcoin Ethereum was no exception. According to PeckShield Alert data, an Ethereum ICO participant who had been inactive for three years became active again by transferring 1,555 ETH (approximately $5 million). The estimated total asset value of this participant is approximately $20.15 million. Also, according to Lookonchain data, a whale holding 398,891 ETH sold 46,853 ETH for 138.8 million USDC and transferred 12,886 ETH (worth $42 million) shortly after.
Profit opportunity in Ethereum
During the price increase, Ethereum billionaires are evaluating profit opportunities. However, these sales do not mean that whales have completely liquidated their large ETH reserves. The cryptocurrency Ethereum is currently trading at $3,200, has a market cap of around $400 billion and is up 30 percent weekly. According to crypto market analyst Michael van de Poppe, the Ethereum price may face resistance at $3,200. However, Poppe predicts that the Ethereum ecosystem will perform strongly in the coming months.
Additionally, spot Ethereum ETF inflows have returned to normal levels following Donald Trump’s victory. Santiment notes that Bitcoin’s growth, which reached $81,264, has been transferred to Ethereum, which could contribute to altcoins reaching new highs. Finally, the Ethereum network continues to show continuous activity and is on the verge of reaching new highs. Investors are closely monitoring Ethereum’s future performance.
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