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Justin Sun, the founder of Tron, has drawn attention with his significant investments in the HTX exchange. Recent surges in ETH transfers have contributed to selling pressure in the markets, leading to a continued decline in ETH prices.
Massive ETH Transfers to HTX
In the last 11 hours, Justin Sun transferred 29,153 ETH to the HTX exchange. This transfer represents an investment worth approximately 96.7 million dollars. According to Spot On Chain data, Sun’s total investment since November 10 has reached 227,000 ETH, with an average value of around 3,556 dollars.
These large ETH transfers are reported to have created selling pressure in the markets, causing the ETH price to decrease by 2%. Currently, ETH is approaching the 3,300 dollar level, with some analysts predicting it could drop to as low as 2,800 dollars.
Analysts Anticipate High Prices in 2025
Leading analysts forecast that Ethereum 
$1,589 could experience a significant price increase in the first quarter of 2025. Charting Guy predicts the ETH price could reach 7,080 dollars by April 2025, while Crypto Rover notes that ETH is likely to start gaining momentum in January 2025 after Bitcoin 
$84,175 dominance peaks.
Future price movements of ETH may depend on both Justin Sun’s strategies and overall market conditions. Currently, the market is trading around 3,340 dollars with a 1.38% decline, and there has been a liquidation of 38.3 million dollars in the last 24 hours.
