{"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":"

The move comes after a period of volatility, with 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

According to recent blockchain 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

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