Justin Sun Cashes In on Ethereum Surge, Offloading $60 Million

Ethereum's recent price surge to around $3,200 has sparked significant activity among major investors, including Tron founder Justin Sun, who recently sold a portion of his holdings.

Sun reportedly deposited 19,000 ETH, valued at about $60.83 million, into HTX following the rally, with estimated total profits from these transactions around $69.36 million.

Sun’s holdings include nearly 392,474 ETH acquired earlier this year, making this sale a small part of his overall Ethereum portfolio, minimizing broader market concerns.

Other early Ethereum investors are also reactivating holdings. Data from PeckShield Alert shows that a participant from Ethereum’s initial coin offering (ICO) transferred 1,555 ETH, worth around $5 million, to Coinbase after three years of dormancy.

This investor, who originally acquired 6,292 ETH during Ethereum’s ICO for $1,951, now holds over $20 million in ETH.

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Additionally, large Ethereum holders are taking profits. A major whale recently sold 46,853 ETH for $138.8 million at an average price of $2,920, and has continued to move smaller amounts to exchanges. However, this whale still holds over 350,000 ETH, signaling some confidence in Ethereum’s future potential.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.