{"id":287337,"date":"2024-04-22T12:24:02","date_gmt":"2024-04-22T06:54:02","guid":{"rendered":"https:\/\/dripp.zone\/news\/justin-sun-reportedly-scooped-890-million-worth-of-ethereum-eth-price-surge-ahead-crypto-news\/"},"modified":"2024-04-22T12:24:06","modified_gmt":"2024-04-22T06:54:06","slug":"justin-sun-reportedly-scooped-890-million-worth-of-ethereum-eth-price-surge-ahead-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/justin-sun-reportedly-scooped-890-million-worth-of-ethereum-eth-price-surge-ahead-crypto-news\/","title":{"rendered":"Justin Sun Reportedly Scooped $890 Million Worth of Ethereum, ETH Price surge Ahead? – Crypto News"},"content":{"rendered":"

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In recent developments, questions have arisen regarding whether Justin Sun, the prominent figure in the crypto space, has acquired a substantial amount of Ethereum (ETH). If true, this could further help boost the ETH price gain momentum to $3,500 and above.<\/p>\n

Justin Sun Wallet Shows Strong Ethereum Buying<\/h3>\n

Lookonchain, an on-chain data provider, highlights intriguing activities in whale wallets<\/a> suspected to be associated with Sun. Since April 8, a wallet suspected to be Sun\u2019s has purportedly acquired 127,388 ETH, amounting to $405.19 million.<\/p>\n

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Notably, this wallet deposited a significant sum of 787 million USDT to Binance on the Tron network starting March 31. Additionally, on the same date, a mysterious wallet emerged on the Ethereum blockchain, withdrawing $96.8 million in stablecoins from Binance.<\/p>\n

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Curiously, this wallet commenced purchasing ETH from both Binance and decentralized exchanges, accumulating a total of 127,388 ETH valued at $405.19 million, with an average price of $3,172. These actions mirror those observed in a wallet previously linked to Sun, which acquired 168,369 ETH valued at $487 million between February 12 and February 24. If these wallets indeed belong to Sun, his ETH holdings would amount to a substantial 295,757 ETH, valued at $891 million, acquired at an average price of $3,014 from Binance and decentralized exchanges since February 12.<\/p>\n

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Did #JustinSun<\/a> buy 127,388 $ETH<\/a>($405.19M) since Apr 8?<\/p>\n

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The wallet suspected of being #JustinSun<\/a> has deposited 787M $USDT<\/a> to #Binance<\/a> on #Tron<\/a> since Mar 31.<\/p>\n

Also on Mar 31, a mysterious wallet was created on #Ethereum<\/a> and withdrew $96.8M stablecoins from #Binance<\/a>.
Is this a\u2026 pic.twitter.com\/OcEovodUrc<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) April 22, 2024<\/a><\/p>\n<\/blockquote>\n

ETH Price Action Ahead<\/h3>\n

As of press time, the Ethereum price<\/a> is trading 1.58% up at a price of $3,226 and a market cap of $387 billion. Analysis of the ETH\/USD pair\u2019s hourly charts reveals a significant breakthrough, as Ethereum breaches two interconnected downtrend lines positioned at the $3,070 and $3,150 marks.<\/p>\n

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Currently, Ethereum\u2019s value exceeds $3,190 and maintains a position above the 100-hour Simple Moving Average, signaling a bullish outlook. Initial resistance is observed at $3,200, with notable barriers at $3,250 and $3,280. Overcoming these obstacles may propel Ethereum towards $3,350 and potentially beyond.<\/p>\n

Conversely, failure to breach the $3,250 resistance could lead to a downtrend. In such a scenario, critical support is anticipated around $3,150. Further decline below the $3,120 level and the 100-hour SMA could escalate selling pressure, potentially driving prices toward $3,020 and even as low as $2,965.<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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