Tron (TRX) founder Justin Sun has once again made headlines in the cryptocurrency world with an important transfer of Ethereum (ETH) to exchange platform Poloniex. Lookonchain, a blockchain tracking firm, revealed the details of this latest transaction in a tweet earlier today. Here are the details…
TRON founder’s crypto transactions attracted attention
According to Lookonchain, Justin Sun transferred 23,000 ETH to Poloniex, amounting to approximately $43 million. This is just one of a number of major actions taken by the founder of Tron over the past year. Sun sent a total of 67,500 ETH to Poloniex, which is roughly $126 million at current market prices. This news came at a time when the ETH price was experiencing fluctuations. As reported by CoinMarketCap, Ethereum was valued at $1,860.37 at the time of writing and is up a slight 0.02 percent in the last 24 hours. However, its weekly performance remained negative, down 2.95 percent.
In contrast, TRX, the native token of the Tron network, showed positive momentum. TRX, traded at $0.07904, witnessed an increase of 1.40 percent in the past day. This contributed to its weekly gain of 3.75%. Outpacing both ETH and Bitcoin (BTC), TRX gained 1.61% against BTC and 1.50% against ETH. Analyzing TRX’s daily chart, an ascending wedge chart formation is observed, which indicates a potential price drop to the key support level of $0.07528 in the coming days.
Justin Sun, largest stETH owner
However, TRX was also trying to surpass the key resistance level at $0.07885. A successful break above this level could open the way to the next key resistance barrier at $0.08295 next week. Separately, on July 8, on-chain data analyst dollar.eth reported that Justin Sun’s wallet addresses used 30,000 stETH worth approximately $55.8 million. Sun currently holds 260,000 stETH, equivalent to about $483.6 million. This makes it the largest individual stETH holder and further solidifies its important position in the cryptocurrency market.
The cryptocurrency community is eagerly awaiting Justin Sun’s next move as his ongoing transactions and holdings continue to shape the market. As the founder of Tron, Sun has been a leading figure in the blockchain industry, and his actions often attract the attention and speculation of both investors and enthusiasts.
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