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- An insider and blockchain journalist shared information regarding a mammoth Ethereum transaction that occurred on cryptocurrency exchange Binance.
- AS covered previously by a news agency, Justin Sun’s account was utterly active during December of last year.
- As of this writing, Ehthereum was trading at a market value of $2,920.4, bearish by 2.36% in the previous 24 hours.
Tron Founder, Justin Sun, Deposits $55 Million
An insider and a blockchain journalist unleashed information regarding the behemoth Ethereum transfer that happened on digital asset exchange Binance.
The transaction took place yesterday. A sum of 19,000 ETH with a total value more than $55 Million was moved by Tron founder Justin Sun to Binance.
As covered by a news agency, Justin Sun’s account was utterly active back in December. In under a month, he deposited Ethereum worth over $600 Million to BNB.
However, it seems like Justin Sun transfers coins back and forth among internal wallets of his network without any intention to sell.
As of now, Justin Sun’s wallet holds a balance of 298,146 Ethereum, which equals to $867,573,820.38.
ALSO READ – How to Make Blockchain a New Kind of Economic Engine
Are Bears On Their Way?
Nevertheless, some cryptocurrency Twitter speakers are affirmative that this is an alarm for the Ethereum bulls. It was mentioned that the acts of Three Arrow Capital’s Su Zhu must be tracked closely.
In the tweet, Justin Sun and Su Zhu were said to always be bullish on Twitter.
As per the report, acts of the prominent big whales are frequently interpreted as a prime signal for retail cryptocurrency holders. For example, on 11th November, Ethereum Foundation sold $90 million straight on its value spike.
As this article was being written, Ethereum was trading at a market price of $2920.4, down by 2.36% in previous 24 hours.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
