Justin Sun Moves $320M in Ethereum as Crypto Market Faces Pressure

Tron founder Justin Sun executed over $320 million in Ethereum (ETH) and staking token transfers to HTX within 24 hours, even as the crypto market experiences a sharp downturn.

This move comes as Bitcoin slid from $95,000 to $90,300, pushing the global crypto market cap down by over 4.2% to $3.17 trillion.

Sun’s transactions included 96,591 ETH worth $316 million, alongside smaller transfers of Ether.fi (ETHFI) and EIGEN tokens.

He acquired the ETH at an average price of $3,275, indicating a possible strategy to leverage HTX trading opportunities. Meanwhile, Ethereum’s price has dropped 20% in the last month and now trades at $3,150.

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Sun has a history of large-scale transfers, having moved substantial amounts of ETH to HTX in late 2024 following unstaking actions.

These high-profile activities, alongside others like Arthur Hayes’ recent ENA token transactions, highlight the role of major players in influencing market dynamics during volatile periods.

Kosta Gushterov