Justin Sun Denies Ethereum Selloff Claims As ETH Price Eyes $4,000 Rally

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As a seasoned crypto investor with a keen eye for market movements and a knack for deciphering rumors, I find Justin Sun’s recent clarification about his alleged Ethereum selloff intriguing.

Tron founder Justin Sun has denied reports of him selling Ethereum as on-chain data shows significant deposits to HTX over the last month. In his latest message, Sun said that all rumors of him offloading his ETH holdings are false. The announcement comes as the ETH price has bounced back 2% over $3,400 showing signs of bottom formation and further rally ahead.

Justin Sun Denies Ethereum Selloff From Holdings

There’s been a significant shift in Ethereum within Justin Sun’s wallet, including transactions from staking platforms like Lido Finance and EtherFi, as well as deposits to exchange HTX. Some people speculate that he might be offloading his holdings, but recently, Justin Sun has put an end to these rumors.

Sun made it clear that the latest ETH transactions were simply transfers among various wallets, not liquidations. He reinforced his optimistic view for the future of the Ethereum system. In a tweet, the creator of TRON expressed:

Contrary to the rumors spreading online, we’re not selling off Ether (ETH). Instead, it’s an internal movement of ETH between our various digital wallets. Rest assured, we’re steadfast in our optimism for the future of the Ethereum network.

Beginning on November 10, as the Ethereum price escalated after Donald Trump’s election victory, Justin Sun has accumulated a grand total of 108,919 ETH, equivalent to $400 million, into HTX. This was done with an average price of around $3,674 per ETH. Notably, numerous deposits were made near the local peak prices.

ETH Price Bounce Back Eyeing Rally to $4,000

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2024-12-24 12:37