Justin Sun's wallet continues to purchase Ethereum at a price of $41 million.

Kamal531

According to reports, a wallet suspected to belong to blockchain giant Justin Sun has once again made a large-scale purchase of Ethereum (ETH). According to a tweet from the blockchain analysis company Lookonchain, just 12 hours ago, the wallet acquired a staggering 13,780 ETH from the cryptocurrency exchange Binance, valued at approximately $41.24 million.

This recent acquisition is part of a larger buying spree, with the Justin Sun wallet reportedly acquiring 168,369 ETH, worth approximately $487 million, in less than two weeks from Binance and DEX. This week, a series of transactions from the Sun wallet have been accelerating, with significant purchases almost every day.

On February 23, the suspected wallet added another 18,616 ETH from Binance, equivalent to $54.57 million. Previously, the wallet purchased 12,702 ETH ($36.90 million) and 10,136 ETH ($29.76 million) on February 21, and made a massive purchase of 54,721 ETH worth $154.4 million on February 19, along with previous recorded transactions.

The accumulation trend of Ethereum has sparked discussions and speculation within the cryptocurrency community regarding the wallet belonging to Justin Sun, the founder of TRON and a well-known figure in the cryptocurrency industry. While Sun has not confirmed these transactions, the scale and frequency of the acquisitions align with the behavior of such prominent investors.

Amidst the buying frenzy, Ethereum is experiencing a significant surge in value. Ethereum's price recently surpassed the $3,000 mark, currently sitting at $3,022. This represents a 2.18% increase in the past 24 hours and a substantial 35.88% increase over the past 30 days. Year-on-year performance is even more remarkable, with Ethereum's price soaring by 88.62%.

The aggressive accumulation of Ethereum and the subsequent price surge have led to various interpretations. Some analysts believe that these large-scale purchases may be a bullish signal for Ethereum, indicating strong confidence in the platform's long-term potential. Others speculate that this may be part of a broader strategy by Sun or affiliated parties, possibly related to speculation about an Ethereum ETF.

Ritu13

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Yamini003

Wallets typically opt for ones they can trust.

977Iti

Alright, I'm currently using this wallet too.