- Justin Sun makes significant moves with Ethereum.
- Vitalik Buterin’s associated address also observed in crypto movements.
In a recent turn of events, Justin Sun, the founder of Tron (TRX), appears to be making massive shifts in the crypto realm by relocating Ethereum (ETH) holdings worth an eye-catching $132 million. This surprising revelation was brought to light by a report from the Daily Hodl’s post.
According to data analytics platform Lookonchain, Sun has been withdrawing a considerable amount of Ethereum, precisely 80,251 ETH, from Lido (LDO), a renowned liquid staking service provider. Of this massive amount, Sun has already moved 43,000 ETH, equivalent to $70 million, to the Binance cryptocurrency exchange.
Considering the Ethereum was moved to an exchange, there is potential for it to be traded or sold in the open market.
Ethereum Co-creator’s Activity Noticed
Apart from Sun’s significant movements, Lookonchain has also detected some activity related to an address believed to be associated with Ethereum’s co-creator, Vitalik Buterin. The data suggests that this particular address might have deposited a sum of 1,000 ETH, valued at approximately $1.64 million, to the Bitstamp crypto exchange. Furthermore, this same address has been recorded to deposit a cumulative 4,400 ETH ($7.23 million) to Bitstamp over the recent two months. Interestingly, it’s received a massive 70,000 ETH, or $115 million, from an address known as Vb3 and is presumed to be related to vitalik.eth.
Ethereum’s Current Market Position
At the moment of this report, Ethereum’s trading price stands at $1,628.83. This represents a slight dip of less than 1% over the past day. Despite its current position, it’s essential to note that this leading cryptocurrency is still 66.51% below its all-time high, which was recorded at $4,878 in November 2021.