Tron Founder Justin Sun Adds $1.1 Billion Worth of Ethereum to Holdings

IconCrypto News Terminal24 Apr, 2024

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Tron Founder Justin Sun Adds $1.1 Billion Worth of Ethereum to Holdings

**Tron Founder Justin Sun Accumulates $1.1 Billion in Ethereum** Cryptocurrency on-chain analyst EmberCN reported on Twitter that an address believed to belong to Tron (TRX) founder Justin Sun has acquired a total of 339,187 ETH (worth approximately $1.097 billion) since December 26, 2023. The purchases were made through both centralized exchanges (CEXs) and on-chain transactions, with an average price of $2,955 per ETH. **Significance of the Acquisition** Sun's significant Ethereum acquisition indicates his continued bullish stance on the cryptocurrency market. Despite the recent market downturn, he sees Ethereum as a long-term investment with high potential. This move also aligns with Tron's recent efforts to explore decentralized finance (DeFi) and non-fungible token (NFT) projects. **Previously on April 23, 2024:** Cryptocurrency on-chain analyst EmberCN reported that an address believed to be that of Tron founder Justin Sun had acquired a total of 339,187 ETH since December 26, 2023, via a combination of centralized exchange (CEX) and on-chain purchases, at an average price of $2,955. This amounts to $1.097 billion worth of ETH.

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