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Justin Sun-Linked Wallet Sparks Ethereum Selloff on Binance

Published 06/25/2024, 12:10 AM
Updated 06/25/2024, 12:45 AM
© Reuters Justin Sun-Linked Wallet Sparks Ethereum Selloff on Binance
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  • Justin Sun withdrew 13,967 ETH worth $48.8M from Binance in 3 days.
  • Significant ETH movements suggest strategic asset management by Justin Sun.
  • The market speculates on the reasons behind Justin Sun’s large ETH withdrawals.

A wallet suspected to belong to TRON founder Justin Sun has withdrawn a significant amount of Ethereum (ETH) from Binance over the past three days, sparking speculation within the cryptocurrency community.

In a series of transactions, the wallet has withdrawn 13,967 ETH from Binance. This substantial amount, totaling approximately $48.8 million, was withdrawn over the past 3 days, at an average price of $3,494 per ETH.

The latest withdrawal occurred 8 hours ago and involved 4,629 ETH, valued at $16.07 million, with a price per ETH of $3,472. This move is part of a broader pattern of significant asset movements by the same wallet.

Three days ago, two major withdrawals were made from the same wallet. The first transaction involved 4,338 ETH, worth a total of $15.837 million, with a price per ETH at approximately $3,421. Shortly after, a second transaction moved 5,000 ETH, totaling $17.102 million, with a similar price per ETH of around…

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