- Justin Sun, the founder of TRON (TRX), applied to withdraw 80,251 ETH this past Wednesday.
- The cryptocurrency entrepreneur already withdrew 43K ETH and deposited the tokens to Binance, according to Lookonchain.
- From a technical perspective, ETH was attempting to recover above the $1,645 resistance level at press time.
The founder of TRON (TRX) and cryptocurrency entrepreneur, Justin Sun, applied to withdraw 80,251 Ethereum (ETH) tokens on Wednesday, according to a post shared by Lookonchain earlier today. This is making ETH holders jumpy as they are now questioning whether Sun is getting ready to dump his tokens, which could trigger a steep price drop.
So far, the entrepreneur has already successfully withdrawn about 43K ETH tokens and deposited them to Binance. The withdrawn ETH is worth about $70 million, according to the blockchain tracking platform.
Justin Sun(@justinsuntron) applied to withdraw 80,251 $ETH ($132M) on Oct 4.So far, he has successfully withdrawn 43K $ETH ($70M) and deposited it to #Binacne.https://t.co/6wvQuDabVE pic.twitter.com/asPLdKNqN4
— Lookonchain (@lookonchain) October 7, 2023
Meanwhile, ETH was attempting to reclaim a posit…
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