{"id":88904,"date":"2024-08-07T03:48:03","date_gmt":"2024-08-07T07:48:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=88904"},"modified":"2024-08-07T03:48:07","modified_gmt":"2024-08-07T07:48:07","slug":"justin-sun-buys-ethereum-during-market-dip","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/justin-sun-buys-ethereum-during-market-dip\/","title":{"rendered":"Justin Sun Buys Tens of Millions in Ethereum During Market Dip"},"content":{"rendered":"\n

Justin Sun bought nearly 15,000 ETH for $36 million, increasing his total holdings to about 392,474 ETH despite recent price drops<\/a>.<\/p>\n\n\n\n

\"Justin
Justin Sun Buys Tens of Millions in Ethereum During Market Dip<\/figcaption><\/figure>\n\n\n\n

In a recent transaction, Justin Sun, the founder of Tron, acquired nearly 15,000 ETH, a substantial increase in his Ethereum holdings.<\/p>\n\n\n\n

Spot On Chain, a blockchain analytics firm, has reported that Sun has invested approximately $36 million in Ethereum through Binance, bringing his total ETH holdings to approximately 392,474.<\/p>\n\n\n\n

Sun's strategy remains unchanged, despite the fact that the value of his Ethereum holdings<\/a> has fallen below $1 billion as a result of recent price corrections.<\/p>\n\n\n\n

\n

Justin Sun (@justinsuntron\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>) withdrew 14,884 $ETH<\/use><\/svg><\/span><\/a> ($35.97M) from #Binance<\/use><\/svg><\/span><\/a> 10 hours ago!

This brought the total amount of $ETH<\/use><\/svg><\/span><\/a> he accumulated since Feb to 392,474 $ETH<\/use><\/svg><\/span><\/a> (est. cost: $1.19B, now worth: $995M).

Note that Justin Sun also deposited a net amount of 49M $USDT<\/use><\/svg><\/span><\/a> to #HTX<\/use><\/svg><\/span><\/a> in\u2026 pic.twitter.com\/43dHfK4U74<\/use><\/svg><\/span><\/a><\/p>— Spot On Chain (@spotonchain) August 6, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Sun has clarified that his team does not employ leveraged trading, despite the rumors of liquidated leveraged positions when Ethereum fell below $2,000.<\/p>\n\n\n\n

Institutional interest remains robust as Ethereum's price recovers to more than $2,500. On Monday, Ethereum ETFs<\/use><\/svg><\/span><\/a> experienced $48.8 million in net inflows, with BlackRock's Ethereum ETF dominating the pack with $47.1 million in new investments, according to data from Farside Investors.<\/p>\n\n\n\n

This suggests that, despite the recent volatility, Ethereum's prominent investors remain optimistic about its long-term prospects.<\/p>\n","protected":false},"excerpt":{"rendered":"

Justin Sun bought nearly 15,000 ETH for $36 million, increasing his total holdings to about 392,474 ETH despite recent price drops. In a recent transaction, Justin Sun, the founder of Tron, acquired nearly 15,000 ETH, a substantial increase in his Ethereum holdings. Spot On Chain, a blockchain analytics firm, has reported that Sun has invested […]<\/p>\n","protected":false},"author":36,"featured_media":88909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[128,5291,583],"class_list":["post-88904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-ethereum","tag-justin-sun","tag-market-dip"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/202408061645-main.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=88904"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/88909"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=88904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=88904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=88904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}