Justin Sun, the founder of Tron, firmly refuted allegations regarding the sale of Ethereum (ETH) 
$3,477. Onchain analyses revealed significant amounts of Ethereum deposited into the HTX exchange over the last month, yet Sun insisted that all rumors were baseless. This statement came during a period when Ethereum’s price rose above $3,400.
Ethereum Transfers and Speculations
Transfers of Ethereum from Justin Sun’s wallet have captured attention. Withdrawals of ETH from platforms like Lido Finance and EtherFi, along with deposits into HTX, led some investors to speculate that Sun was selling his Ethereum assets. However, Sun categorically stated, “Rumors of ETH liquidation are completely unfounded. These are merely transfers occurring between our different wallets. We continue to believe in the Ethereum ecosystem long-term.”
Sun clarified that the transfers were not aimed at creating liquidity and reaffirmed his commitment to the cryptocurrency ecosystem. This situation has piqued investor interest, contributing to a reduction in market uncertainty.
Movement of Ethereum Prices and Market Expectations
The recent increase in Ethereum’s price is seen as a precursor to a broader rally. Since November 10, Justin Sun transferred a total of 108,919 ETH to the HTX exchange at an average price of $3,674. A significant portion of these transactions occurred near local price peaks of Ethereum. However, Sun’s statements indicate that these transactions were not intended for selling.
Currently, the price of Ethereum is above $3,400. Market analysts agree on the potential for ETH to rally towards $4,000. Justin Sun’s clear statements regarding the market may positively affect Ethereum’s price stability. Experts note that influential figures like Sun increase market confidence and influence investor decisions.
This recovery in Ethereum’s price strengthens long-term support and adoption trends. Investors are closely monitoring market movements and Sun’s statements to develop new strategies. The faith in the Ethereum ecosystem is regarded as a positive signal for the platform’s future.
