One of the well-known names in the crypto money industry, Tron founder Justin Sun became the subject of discussion, this time with the ETHs he moved to the Binance stock market.

While Justin Sun carried 165 thousand 989 ETH to the stock market, it did not go unnoticed that he has been doing this regularly since the beginning of December.

Users and followers thought that Sun made such a move for sales purposes at first. Justin Sun made a statement about the situation.

   “Movements in domestic distribution wallets recently caught the attention of the market. We remain optimistic about the market outlook and it's not what everyone was predicting (*move for sale). Regardless of the Ethereum and TRON blockchains industry, we remain quite optimistic. We will continue to produce and build. You will continue to receive more resounding news from us.”

Before the downward movement in Bitcoin that started at the end of November, Sun transferred his $2 billion worth of cryptocurrencies from his personal wallet to another wallet, and became the subject of discussion again. Sun said that at that time, he moved the Ethereums he carried to another wallet for storage and that he would not sell.

Wu Blockchain


Announcing the termination of the TRON Foundation about 2 weeks ago, Sun stated that the ecosystem is now much more independent and decentralized.

Ethereum, which has fallen by 8 percent in the last 24 hours and has gone back 22% since its ATH in November, is trading at about $ 3713 at the time of writing.

Could transactions affect Ethereum's market performance?

While the transacted amount of Ether could be considered significant, it has still only made up less than 20% of the average trading volume for the second biggest coin on the crypto market.

According to market data provided by TradingView, Ethereum has lost 22% of its value compared to the ATH reached back in November. After a strong correction, Ether has been steadily going down by losing 10% per week approximately.

At press time, ETH trades at $3,713 after spiking down by 8%, following the majority of coins on the market. Bitcoin, XRP and Dogecoin have also plunged down, with an average 8% loss in the last three days.