- Tron founder Justin Sun recently exchanged about $33 million worth of altcoins.
Supporting the Ethereum PoW hard fork plan and listing ETHW and ETHS on crypto exchange Poloniex, Justin Sun has had 20,633 coins worth nearly $33 million to his wallet in the past four days. Ethereum (ETH) added. The famous developer even promised to donate forked ETH tokens to support the community and the PoW ecosystem.
Prior to merger, Justin Sun transfers Ethereum (ETH) tokens
According to Etherscan data, 20,633 transactions were made to the address marked “Justin Sun” by Nansen this week. Ethereum (ETH) added. Justin Sun added 5,633.05 ETH, worth about $9 million, from Poloniex on Monday, and 14,999.87 ETH, worth about $24 million, again on September 2, from Poloniex.
The wallet address currently holds 268,280.58 ETH, worth $425 million. The wallet in ETH has a net worth of 277,685.98, which is over $440 million.
Justin Sun, the founder of Tron, has announced that the leading Chinese miner Chandler Guo’s Ethereum Proof-of-Work (PoW) He was a strong supporter of his plan. Once Ethereum switches to proof-of-stake (PoS), miners will become obsolete. Because, EthereumPoW community was created to perform a PoW fork of Ethereum so that miners can continue mining ETH on the Ethereum PoW blockchain.
However, Ethereum co-founder Vitalik Buterin and other crypto influencers do not believe this idea, but that miners should switch to Ethereum Classic. The Ethereum Classic community and the ETC Cooperative organization think that the Ethereum hard fork will not work, and ETHPoW PoW hard fork urges him to abandon his plan.
Meanwhile, Chandler Guo and EthereumPoW are confident that they will successfully complete all preparations for the Ethereum hard fork before Merging.
Justin Sun and crypto exchange Poloniex are backing the Ethereum hard fork and have already announced plans to list ETHW and ETHS tokens prior to the Merger. Other cryptocurrency exchanges are also open to listing the ETHW token if the hard fork is successful.
Ethereum (ETH) and Ethereum Classic (ETC) prices take action
ETH price, recently went up to over $2000 in anticipation of Merger. However, prices were corrected when whales and investors started selling ETH after the Ethereum Foundation clarified misunderstandings about the deflationary price post-Merge. ETH price is currently trading at $1,586, up almost 3 percent in one day.
Meanwhile, since miners are likely to switch to Ethereum Classic after Merge, Ethereum Classic (ETC) the price is also rising. ETC priceIt is trading at $32.63, up nearly 3 percent in the last 24 hours.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.