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