Recently, Justin Sun’s transfer of $600 million worth of Ethereum to Binance has sparked apprehensive social media posts.
The move of $600 million worth of Ethereum from the wallet ending with “ff5296” to the Binance wallet caught the attention of the market. The understanding that the wallet owner is Justin Sun has been interpreted as that Justin Sun will liquidate Ethereums due to the recent decline in the market.
Responding to the rumors with his statement today, Sun:
“Recently, the activity in wallets has caught the attention of the market. We will continue to be positive about the appearance of the market. It’s not like everyone expected. Regardless of Ethereum, TRON and the entire blockchain industry, we are quite optimistic, we will continue to build. From now on, everyone will get more intense news.”
He stated that he does not intend to sell the Ethereums he sent to Binance for the time being.
The fact that Sun’s transfer is interpreted by people as a sales move also has an impact on his recent resignation from his position as the CEO of Tron and his becoming the Ambassador of Granada. It is known that Sun has sent a total of 165,989 Ethereum to Binance since December.