Tron Founder Justin Sun Cashes Out ETH Holdings After the Price Registered a Strong 29% Gain

After the Ethereum price registered a strong 29% gain moving to $3,200 over the past week, Tron founder Justin Sun cashing out part of his ETH investment.

Tron founder Justin Sun has offloaded part of his ETH investment cashing in on last week’s Ethereum price rally. Notably, ETH whales that have been lying dormant for a significant period have also become active by moving their holdings.

After maintaining a low profile for nearly three years, an early Ethereum ICO participant has reactivated their crypto holdings. This wallet address, which was initially credited with 6,292 ETH for an investment of only $1,951 during the ICO, recently transferred 1,555 ETH (valued at approximately $5.01 million) into the crypto exchange Coinbase.

Currently, the participant’s total crypto holdings are valued at around $20.15 million, showcasing a massive increase since the ICO. However, part of the crypto holdings have been moved into Coinbase, and it remains unclear whether the remaining holdings will also be shifted.

Meanwhile, Sun deposited 19,000 ETH (valued at approximately $60.83 million) into HTX at an ETH price of $3,202, as indicated by tracking his ETH address. Notably, his average purchase value for ETH is $3,027 with an estimated total investment of $1.19 billion. Thus, the recent offloading is quite minuscule in comparison to Sun’s total holdings in ETH.

Sun’s total profits from these transactions stand at $69.36 million, gaining nearly 5.69% following the recent Ethereum price surge. As reported by Spot on Chain, this deposit by Justin Sun is part of a net 392,474 ETH that he allegedly acquired between February 8 and August 5 across three wallets.

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