Justin Sun's Alleged Address Funds HTX With $110M USDT for Potential ETH Acquisition
CryptoNewsTerminal Staff03 Aug, 2024
Justin Sun's Alleged Address Funds HTX With $110M USDT for Potential ETH Acquisition
On-chain detective Ember CAN tweeted today that "5 hours ago, an address believed to belong to Tron founder Justin Sun deposited 110 million USDT on HTX (formerly Huobi). It seems he's gearing up to acquire ETH once more." This development follows a recent surge in ETH purchases by Justin Sun, who has been a vocal supporter of the cryptocurrency. In December 2023, he purchased $100 million worth of ETH, and in January 2024, he acquired an additional $50 million worth. If Sun's presumed address is indeed preparing to buy ETH again, it could be a sign that he believes the cryptocurrency is undervalued and has the potential for further growth. With his substantial wealth and influence in the crypto space, Sun's actions could have a significant impact on the price of ETH.
