{"id":2457,"date":"2024-11-11T15:32:58","date_gmt":"2024-11-11T15:32:58","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2457"},"modified":"2024-11-11T15:32:58","modified_gmt":"2024-11-11T15:32:58","slug":"whats-justin-sun-planning-70-million-cash-out-follows-ethereum-rally","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2457","title":{"rendered":"What\u2019s Justin Sun Planning? $70 Million Cash-Out Follows Ethereum Rally"},"content":{"rendered":"
\n

Justin Sun, the founder of Tron, is taking advantage of the recent Ethereum rally. After Ethereum surged 29% on the heels of a major Bitcoin-led market advance, Sun cashed out a part of his Ether investment.<\/p>\n

In addition to Justin and other individual traders, other institutional traders and dormant whales have also taken advantage of the recent price action. Ethereum is trading at the $3,100s level, hitting a high of $3,240.29 last November 11th. Sun started cashing out at $3,202, pushing his estimated profit to $69.36 million, reflecting a 5.69% increase.<\/p>\n

Justin Sun Capitalizes On Recent Ethereum Surge<\/strong><\/h2>\n

Justin Sun is patiently offloading some of his ETH holdings amid a more significant Ethereum and crypto market rally. On-chain data suggests that he has continuously invested in maximizing the digital asset\u2019s price action. SpotOnChain reports that Tron\u2019s founder initially deposited 19,000 ETH at $3,202 to HTX.<\/p>\n

\n

Justin Sun (@justinsuntron<\/a>) appears to be cashing in on $ETH<\/a> amid the latest market rally!<\/p>\n

15 hours ago, he deposited the first 19,000 $ETH<\/a> ($60.83M) to HTX at $3,202.<\/p>\n

This was part of the net 392,474 $ETH<\/a> he allegedly acquired at an average price of $3,027 (est. cost: $1.19B)\u2026 https:\/\/t.co\/976PXgoJ80<\/a> pic.twitter.com\/UCNpE0vnVp<\/a><\/p>\n

\u2014 Spot On Chain (@spotonchain) November 11, 2024<\/a><\/p>\n<\/blockquote>\n

Justin\u2019s latest transaction at HTX pushed his estimated total profit to $69 million, or an increase of 5.70%. According to on-chain data, this tranche was part of the 392,474 tokens he acquired from February 8th to August 5th for $3,027 across three wallets.<\/p>\n

<\/p>\n

The average price of Justin Sun for ETH is $3,027, reflecting a total investment worth $1.19 billion. In short, his recent transaction at HTX is \u201crelatively small\u201d compared to his total ETH holdings, and as such, it should not be a cause for concern among holders.<\/p>\n

An Early ETH Holder Becomes Active<\/strong><\/h2>\n

As Ethereum moves this week, another early Ether ICO holder has moved, PeckShield Alert disclosed. On-chain data reveals the account holder has reactivated its account after three years of dormancy, moving 1,555 ETH worth roughly $5 million into a Coinbase address.<\/p>\n

According to the same online sleuth, this account originally received 6,292 tokens during Ethereum\u2019s ICO, with an investment of $1,951. The account\u2019s total holdings are now worth over $20 million, a huge increase from its initial investment.<\/p>\n

\n

The giant whale with 398,891 $ETH<\/a>($1.28B) has sold 46,853 $ETH<\/a> for 138.8M $USDC<\/a> at $2,920 since Nov 7!<\/p>\n

7 hours ago, the whale transferred another 12,886 $ETH<\/a>($41.24M) to sell.<\/p>\n

The whale currently holds 352,036 $ETH<\/a>($1.27B).https:\/\/t.co\/O79eaAdgrk<\/a> pic.twitter.com\/8YGA6vx7iG<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) November 11, 2024<\/a><\/p>\n<\/blockquote>\n

Another ETH Whale Unloads Its ETH Holdings<\/strong><\/p>\n

Lookonchain data shows another Ethereum whale with 398,891 tokens valued at around $1.28 billion unloaded 46,853 ETH tokens at a price of $2,920 on November 7th. The same account transferred 12,886 tokens worth $42 million at current prices, still leaving substantial holdings worth $1.27 billion.<\/p>\n

The data suggests that ETH whales still hold a considerable share of the tokens and take advantage of the current market rally. Ethereum surged by 30% over the past week, and for $3,200, the asset\u2019s market cap is nearing $400 billion.<\/p>\n

Featured image\u00a0 from Pexels, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Justin Sun, the founder of Tron, is taking advantage of the recent Ethereum rally. After Ethereum surged 29% on the heels of a major Bitcoin-led market advance, Sun cashed out a part of his Ether investment. In addition to Justin and other individual traders, other institutional traders and dormant whales have also taken advantage of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2457","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2457"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2457\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}