{"id":144954,"date":"2024-12-16T19:00:50","date_gmt":"2024-12-16T17:00:50","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144954"},"modified":"2024-12-16T14:38:38","modified_gmt":"2024-12-16T12:38:38","slug":"justin-suns-massive-ethereum-play-sends-shockwaves-through-the-market","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/justin-suns-massive-ethereum-play-sends-shockwaves-through-the-market\/","title":{"rendered":"Justin Sun’s Massive Ethereum Play Sends Shockwaves Through the Market"},"content":{"rendered":"<p>The move comes after a period of volatility, with <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">Ethereum<\/a> <\/strong>trading close to $4,000 and experiencing a notable 2% uptick in its price over the last 24 hours. This announcement follows a major selloff by Sun, where he offloaded a large portion of his Ethereum holdings, raising questions about how his actions may influence the price of the digital asset in the near future.<\/p>\n<p>According to recent blockchain <strong><a href=\"https:\/\/platform.spotonchain.ai\/en\/entity\/278\">data<\/a><\/strong>, 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.<\/p>\n<p>Despite the recent selloff, which saw Sun part with almost 30,000 ETH, his overall holdings are still showing impressive profits, with an estimated return of $349 million\u2014about 29% on his investment.<\/p>\n<style>\n .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/xrps-historic-november-rally-fuels-optimism-for-2025-amid-new-initiatives\/\" title=\"XRP’s Historic November Rally Fuels Optimism for 2025 Amid New Initiatives\">\n <div class=\"contentRight col-4\">\n <span class=\"imgContainer mt-0\">\n <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/xrp-low-2-240x170.jpg\">\n <\/span>\n <\/div>\n <div class=\"contentLeft col-8\">\n <h4 class=\"title mb-0\">XRP’s Historic November Rally Fuels Optimism for 2025 Amid New Initiatives<\/h4> \n \n <\/div> \n <\/a>\n<\/div>\n<p>The timing of Sun\u2019s moves has raised eyebrows, especially as Ethereum\u2019s 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.<\/p>\n<p>The concern is that additional sales could put downward pressure on Ethereum\u2019s price, particularly as his previous actions have coincided with price fluctuations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tron founder Justin Sun has recently ignited fresh speculation in the crypto market with his intentions to acquire a substantial amount of Ethereum.<\/p>\n","protected":false},"author":9,"featured_media":23502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[],"class_list":["post-144954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - 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