Time to Accumulate ETH Instead of Selling: Tron Founder Justin Sun

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As an experienced crypto investor who has witnessed the ups and downs of this dynamic market since its inception, I find myself increasingly optimistic about the near future, particularly with regards to Ethereum. The bullish sentiments expressed by Justin Sun and Cameron Winklevoss, both industry heavyweights, have further solidified my belief that now is an excellent time to continue investing and building within the crypto ecosystem.

Justin Sun, inventor of the Tron blockchain network, who recently gained ownership over both Huobi and Poloniex exchanges, expresses optimism about the upcoming phase in the crypto market, particularly emphasizing the potential growth of the second most significant digital currency, Ethereum.

His tweet came after a bullish statement made by Cameron Winklevoss about the future of the crypto industry and “haemorrhaging $ billions on legal fees fighting SEC.”

“Excellent time to continue accumulating”: Justin Sun

As an analyst, I’d rephrase it like this: This week, I, as a crypto billionaire, observed a significant political change within the U.S. government. Expressing a positive stance, I shared my views on how this shift could potentially benefit the cryptocurrency industry. Specifically, I mentioned that the anticipated enhancement in macro-level crypto policies has instilled a sense of optimism in me and my team regarding the market’s future, especially for Ethereum.

Sun proposed that instead of persisting with selling, it seems more advantageous and even “a fantastic opportunity to keep amassing and strengthening.

As a market analyst, I find myself increasingly hopeful regarding the future trends in the cryptocurrency landscape, particularly Ethereum. Rather than considering offloading my holdings, I strongly advocate for continued investment and growth strategies at this moment.

— H.E. Justin Sun🌞(hiring) (@justinsuntron) November 7, 2024

Dormant Ethereum whale sells ETH 

According to the information provided by @spotonchain, a previously inactive Ethereum account, which contains approximately 12,001 Ether (equivalent to around $34.1 million), has recently become active following a period of 8.75 years.

According to the data, this whale is reportedly cashing out their Ethereum (ETH) stash that they initially bought for around $103,000 back in 2016 on ShapeShift. With 12,001 ETH at an average price of $8.58 per coin, if they decide to sell it all now, the potential profit would amount to approximately $34 million – a return of about 330 times their initial investment.

Gemini owner’s ultra-bullish anti-SEC statement

One of the co-creators and proprietors of the Gemini cryptocurrency platform, Cameron Winklevoss, has expressed optimism about the recent changes in U.S. macro-politics that occurred between November 5th and 6th, which he has also discussed.

Given the imminent shift in the U.S. presidency, the Winklevoss twins anticipate significant advancements in the cryptocurrency sector over the next four years. They are optimistic that the current SEC chairman, Gary Gensler, may be succeeded by someone with a favorable stance towards cryptocurrencies.

Consider the progress we can make over the next four years, given that the crypto industry no longer needs to bleed billions on legal expenses battling the Securities and Exchange Commission (SEC). Instead, these resources can be channeled towards constructing the future of finance. Exciting times lie ahead.

— Cameron Winklevoss (@cameron) November 6, 2024

Winklevoss implied that the ongoing Ripple-SEC case (and possibly other legal battles against the SEC) is still underway, and he suggested that the crypto industry will no longer be draining billions on legal expenses but rather channeling these funds towards developing the future of finance instead.

“Amazing awaits,” he stated with hope.

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2024-11-07 20:27