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Sujit Kumar
Jan 13, 2025
by Sujit Kumar

Justin Sun Deposits $320M in Ethereum Amid Market Decline

Justin Sun Deposits $320M

Table of contents

  1. Details of Sun’s Transactions
    1. Market Performance and Ethereum’s Struggle
  2. Sun’s Recent Activity
As the crypto market experienced intensified selling pressure, Justin Sun, the founder of Tron, made strategic moves with massive Ethereum (ETH) transactions. Over the past 24 hours, Sun deposited $320.4 million worth of Ethereum and restaking tokens on HTX, fueling speculation about his tactical trading approach.

Details of Sun’s Transactions

According to Spot Onchain data, Sun transferred 96,591 ETH (approximately $316 million), 1.864 million ether.fi (ETHFI) tokens ($3.54 million), and 260,728 EIGEN tokens ($832,000) to HTX within 13 hours. The deposits were made at an average price of $3,275 per ETH, reflecting a premium over his earlier accumulation cost of $3,036 per ETH.

Observers believe this move could be aimed at leveraging HTX’s trading opportunities during heightened market activity. Such large-scale liquidity injections often influence market depth and trading volumes, potentially triggering volatility and creating opportunities for traders.

Market Performance and Ethereum’s Struggle

The global crypto market remains under pressure, with Bitcoin dropping from $95,000 to $92,000 and the cumulative market cap declining by over 2% to $3.23 trillion. Ethereum, the second-largest cryptocurrency, has also struggled, down 20% over the past 30 days. Its price dropped another 2% in the last 24 hours, trading at an average of $3,150, with a 24-hour trading volume surge of 57% to $17.6 billion.

Sun’s Recent Activity

Sun’s latest moves align with his pattern of depositing significant Ethereum volumes. In December 2024 alone, he transferred over $1.1 billion worth of ETH to HTX, highlighting a consistent strategy of managing liquidity and staking rewards.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Justin Sun Deposits $320M
Justin Sun Deposits $320M in Ethereum Amid Market Decline
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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