Tron founder Justin Sun has recently ignited fresh speculation in the crypto market with his intentions to acquire a substantial amount of Ethereum.
According to recent blockchain data, Sun is looking to withdraw nearly 53,000 ETH – worth around $209 million – from the staking platform Lido. This would be a part of his broader strategy to accumulate Ethereum, as reports suggest he has already acquired a total of 392,474 ETH, purchasing the tokens over several months from February to August at a cost of about $1.19 billion.
The timing of Sun’s moves has raised eyebrows, especially as Ethereum’s price continues to see upward momentum. As of now, ETH is trading at $3,942, and its trading volume has surged by 11%, reflecting growing market confidence. Analysts are now questioning whether Sun will continue liquidating his ETH holdings or if he plans to hold his position.
The concern is that additional sales could put downward pressure on Ethereum’s price, particularly as his previous actions have coincided with price fluctuations.
Source: cryptodnes.bg
