Ethereum
Ethereum Spot ETFs Continue to Accumulate as Justin Sun Increases Holdings Amid Falling Prices
Ethereum place AND F are accumulating ETH regardless of price fluctuations, demonstrating high confidence in the long-term potential of the cryptocurrency.
Currently, 27.5% of the total ETH supply is staked, with 16.3% of this staked ETH being reinvested via protocols such as Eigenlayer. This indicates a strong interest in local yield among ETH investors.
The Ethereum Spot ETF is available for ETH Hodler.
TradingView’s on-chain trading methods @intotheblock veri setlerine göz atmalısınız.
⚠️ETH Hodlers vs. BTC Hodlers
Boğa piyasalarında nerede olduğumuzu… pic.twitter.com/4hoaOAPtXb
– Burak Kesmeci (@burak_kesmeci) June 21, 2024
Long-term investors appear to be waiting for the launch of Ethereum ETFs and potential new all-time highs before deciding to sell their holdings. This cautious approach underlines their optimism about future market developments and price appreciation.
Remarkably, Justin Sun, the founder of TRON, appears to be accumulating ETH during the current market decline. Seventeen hours ago, Sun’s TT2T1 wallet deposited $89.57 million USDT to Binance on the TRON network.
Most recently, an hour ago, a new wallet 0xdbf withdrew 9,338 ETH, valued at $32.9 million, and $40 million USDT to Binance on the Ethereum network.
Justin Sun takes strategic action by purchasing 345,721 ETH
It is worth noting that Justin Sun reportedly purchased 345,721 ETH, now valued at $1.21 billion, through two wallets, 0x7a9 and 0x435, in February and April.
Does Justin Sun (@justinsuntron) just buy more $ETH during the dive?
17 hours ago, Justin Sun’s TT2T1 wallet deposited 89.57 million $USDT has #Binance on TRON.
1 hour ago new wallet 0xdbf withdrew 9,338 $ETH ($32.9 million) and $40 million $USDT of Binance on Ethereum.
Note that Justin Sun has… pic.twitter.com/Gtmv6yJ9qV
– Spot on the channel (@spotonchain) June 21, 2024
These activities highlight the strategic maneuvers of large investors like Justin Sun, who take advantage of market declines to accumulate more ETH.
The continued interest in staking and re-staking, coupled with the anticipation surrounding Ethereum ETFs, reflects strong confidence in Ethereum’s long-term value proposition among institutional and individual investors.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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