web3.0Tron Founder Justin Sun Absorbs Selling Pressure From Whales, Buys $5M Worth of Ethereum (ETH) Ahead of Spot ETF Launch
Tron Founder Justin Sun bought $5 million worth of Ethereum (ETH) over the past 24 hours ahead of the likely imminent launch of spot ETH ETFs (exchange-traded funds).
Tron founder Justin Sun has acquired a staggering $5 million in Ethereum (ETH) in the past 24 hours, setting the stage for a massive development in the cryptocurrency landscape. As the launch of spot ETH ETFs (exchange-traded funds) draws near, Sun has added approximately 1,614 ETH to his already impressive holdings.
This purchase was highlighted in a recent X post by Spot On Chain, an on-chain tracking platform. According to their analysis, Sun began accumulating ETH in early February and has since utilized multiple wallets to acquire a total of 362,751 ETH, valued at around $1.1 billion at an average purchase price of $3,047.
Sun’s shopping spree might not be over yet, as he recently deposited another $45 million in USDT into Binance. This move comes amid large deposits of ETH on centralized exchange platforms.
One notable entity that has been shifting its holdings recently is the Golem Project. The company appears to have paused the sale of its ETH holdings and instead opted to stake 40,000 ETH, as reported by Lookonchain.
Golem(@golemproject) appears to have stopped selling $ETH, and he staked 40,000 $ETH($124.6M) 8 hours ago.
https://t.co/JLwB4bmBtQ pic.twitter.com/HzizTZ01YG
— Lookonchain (@lookonchain) July 11, 2024
Another large depositor is Elwood Technologies, which has been credited with sending 26,811 ETH to Binance over the past three days. However, some wallet addresses belonging to the company withdrew 24,463 ETH during the same period, partially offsetting the deposits.
Despite managing to print a small gain in the past 24 hours to trade at $3,115.61 as of 3:35 a.m. EST, the altcoin leader is down more than 2% on the weekly timeframe.
This occurrence is especially noteworthy as multiple Ethereum ETF filings have been submitted to the SEC in the past week. One filing was made by asset manager ProShares, which is seeking to launch an ETF that will track the performance of the spot price of ETH. Another filing was made by Valkyrie, which is seeking to launch an ETF that will invest in a basket of cryptocurrencies, including ETH, BTC, ADA, SOL, DOT, MATIC, SHIB, and LINK.
pic.twitter.com/lCZBQo2spS
— James Seyffart (@JSeyff) July 8, 2024
Bloomberg ETF analyst Eric Balchunas anticipates a potential approval for an ETH ETF by July 18.
The above is the detailed content of Tron Founder Justin Sun Absorbs Selling Pressure From Whales, Buys $5M Worth of Ethereum (ETH) Ahead of Spot ETF Launch. For more information, please follow other related articles on the PHP Chinese website!
Top 10 virtual digital currency app platforms in the world, the top ten virtual currency trading platforms in 2025Mar 05, 2025 pm 08:00 PMWith the booming development of the virtual currency industry, virtual digital currency trading platforms around the world are becoming increasingly stronger. This article focuses on the top ten virtual digital currency app platforms in the world in 2025, including Binance, OKX, Gate.io, Kraken, Gemini, FTX, Bybit, KuCoin, Huobi and Coinbase. These platforms are known for their advanced features, a wide range of transaction pairs, low fees and stable performance, providing users with a wide range of virtual currency trading options.
Pi Node Teaching: What is a Pi Node? How to install and set up Pi Node?Mar 05, 2025 pm 05:57 PMDetailed explanation and installation guide for PiNetwork nodes This article will introduce the PiNetwork ecosystem in detail - Pi nodes, a key role in the PiNetwork ecosystem, and provide complete steps for installation and configuration. After the launch of the PiNetwork blockchain test network, Pi nodes have become an important part of many pioneers actively participating in the testing, preparing for the upcoming main network release. If you don’t know PiNetwork yet, please refer to what is Picoin? What is the price for listing? Pi usage, mining and security analysis. What is PiNetwork? The PiNetwork project started in 2019 and owns its exclusive cryptocurrency Pi Coin. The project aims to create a one that everyone can participate
![Bitcoin [BTC] was on a downtrend after losing the $92,000-support level in the final week of February](https://img.php.cn/upload/article/001/246/273/174209101774967.jpg?x-oss-process=image/resize,p_40)
Bitcoin [BTC] was on a downtrend after losing the $92,000-support level in the final week of FebruaryMar 16, 2025 am 10:10 AMTechnical indicators such as the OBV showed that selling pressure has been dominant, meaning more losses may be likely ahead.
Various ETF issuers compete to apply for Solana ETF! But why is BlackRock still absent?Mar 03, 2025 pm 06:33 PMMany ETF issuers are scrambling to apply for SolanaETF, but BlackRock is still holding back? This article will interpret this phenomenon. SolanaETF application boom The Securities and Exchange Commission (SEC) has accepted SolanaETF applications submitted by several institutions, including Bitwise, 21Shares, VanEck, CanaryCapital and Grayscale. Bloomberg predicts that the probability of Solana spot ETF being approved by the end of the year is as high as 70%, which is closely related to the Trump administration's friendly attitude towards cryptocurrencies. The establishment of Franklin's "Franklin SolanaTrust" also implies its potential application for SolanaETF. However, Sol
Understand the current situation and future of MEV on a single articleMar 04, 2025 pm 05:06 PMSui Blockchain's MEV (Maximum Extractable Value) strategy and future outlook MEV have become the core issues in the blockchain field, which are related to transaction sorting and arbitrage opportunities. Sui is committed to guiding the development of MEV through Sui Improvement Proposal (SIP) and other mechanisms, ensuring transparency, transaction security, network health, and participant rewards. In addition to existing mechanisms, more mechanisms are planned to be introduced to ensure that its core principles can effectively guide the evolution of MEVs on Sui. Design principles and considerations Sui's every transaction contains potential profit opportunities. Sui's MEV ecosystem consists of the following mechanisms: MEV transaction submission mechanism MEV opportunity release mechanism MEV
PI price forecast: How high can PI coins rise?Mar 03, 2025 pm 07:27 PMSince the launch of PiNetwork (PI)'s independent network, it has continued to attract the attention of the cryptocurrency community. In contrast to the recent sluggish performance of mainstream cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), the price of PI has risen against the trend. PI cryptocurrency: Binance listing may become a catalyst for price surge PINetwork (PI) price upward momentum Strong PI is currently priced at $1.6750, far higher than the previous low of $0.6020. Trading activity and investor interest continue to grow, and PI's future price trend has become the focus of market attention. PI market performance: Strong rebound and key resistance levels PI mainnet started at the beginning
Top 10 Free Virtual Currency Exchanges Rankings The latest top ten virtual currency APP trading platformsMar 11, 2025 am 10:18 AMThe top ten free virtual currency exchanges are ranked: 1. OKX; 2. Binance; 3. Gate.io; 4. Huobi Global; 5. Kraken; 6. Coinbase; 7. KuCoin; 8. Crypto.com; 9. MEXC Global; 10. Bitfinex. These platforms each have their own advantages.
Does Bitcoin have stocks? Does Bitcoin have equity?Mar 03, 2025 pm 06:42 PMThe cryptocurrency market is booming, and Bitcoin, as a leader, has attracted the attention of many investors. Many people are curious: Do Bitcoin have stocks? The answer is no. Bitcoin itself is not a stock, but investors can indirectly invest in Bitcoin-related assets through various channels, which will be explained in detail in this article. Alternatives to Bitcoin Investment: Instead of investing directly in Bitcoin, investors can participate in the Bitcoin market by: Bitcoin ETF: This is a fund traded on the stock trading market, whose asset portfolio contains Bitcoin or Bitcoin futures contracts. This is a relatively convenient option for investors who are accustomed to stock investments, without having to hold Bitcoin directly. Bitcoin Mining Company Stocks: These companies' business is Bitcoin mining and holding Bitcoin
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
AI Hentai Generator
Generate AI Hentai for free.
Hot Article
Hot Tools
DVWA
Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software
Atom editor mac version download
The most popular open source editor
Dreamweaver Mac version
Visual web development tools
PhpStorm Mac version
The latest (2018.2.1) professional PHP integrated development tool
SecLists
SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.
