{"id":24936,"date":"2024-07-12T20:30:35","date_gmt":"2024-07-12T17:30:35","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24936"},"modified":"2024-07-12T17:30:01","modified_gmt":"2024-07-12T14:30:01","slug":"justin-sun-accumulates-ethereum-will-altcoins-take-off","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/justin-sun-accumulates-ethereum-will-altcoins-take-off\/","title":{"rendered":"Justin Sun Accumulates Ethereum: Will Altcoins Take Off?"},"content":{"rendered":"<p>SpotOnChain reports that a suspected wallet of TRON founder Justin Sun has been buying Ethereum (ETH) dips.<\/p>\n<p>According to SpotOnChain, Justin Sun, the founder of TRON, has been purchasing <a href=\"https:\/\/coinmuhendisi.com\/blog\/ethereum-etf-ihraccilari-nihai-onay-bekliyor\/\">Ethereum<\/a> (ETH) at a price of $3,097 through a suspected wallet. This purchase, which amounted to 1,614 ETH, cost Sun approximately $5 million in USDT. This is a significant development for ETH, as it comes at a time when the coin has been struggling to recover from recent losses. Moreover, Justin Sun is a well-known figure in the crypto space, and his actions can have a significant impact on the market.<\/p>\n<p>SpotOnChain&#8217;s findings also reveal that Sun has been on an Ethereum buying spree, accumulating 362,751 ETH since February 8th. These purchases, made at an average price of $3,047, were executed through three different wallets. The total cost of these ETH acquisitions is estimated to be around $1.11 billion.<\/p>\n<p>Justin Sun&#8217;s recent deposit of approximately 45 million USDT into the crypto exchange Binance further suggests that he may be using these funds to purchase even more Ethereum in the near future. These potential purchases could provide a much-needed boost to ETH&#8217;s price.<\/p>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram<\/strong>\u00a0 ,<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n<div class=\"kk-star-ratings kksr-auto kksr-align-center kksr-valign-bottom\" data-payload=\"{&quot;align&quot;:&quot;center&quot;,&quot;id&quot;:&quot;4049&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;bottom&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;Arbitrum Adds $59M to Its Treasury with Missed Applications!!&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}\">\n<div class=\"kksr-stars\">\n<div class=\"kksr-stars-inactive\">\n<div class=\"kksr-star\" data-star=\"1\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>SpotOnChain reports that a suspected wallet of TRON founder Justin Sun has been buying Ethereum (ETH) dips. According to SpotOnChain, Justin Sun, the founder of TRON, has been purchasing Ethereum (ETH) at a price of $3,097 through a suspected wallet. This purchase, which amounted to 1,614 ETH, cost Sun approximately $5 million in USDT. This<\/p>\n","protected":false},"author":1,"featured_media":13334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[22,105,1062,119],"class_list":["post-24936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-binance","tag-ethereum","tag-justin-sun","tag-usdt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Justin Sun Accumulates Ethereum: Will Altcoins Take Off? - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/justin-sun-accumulates-ethereum-will-altcoins-take-off\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Justin Sun Accumulates Ethereum: Will Altcoins Take Off? - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"SpotOnChain reports that a suspected wallet of TRON founder Justin Sun has been buying Ethereum (ETH) dips. According to SpotOnChain, Justin Sun, the founder of TRON, has been purchasing Ethereum (ETH) at a price of $3,097 through a suspected wallet. This purchase, which amounted to 1,614 ETH, cost Sun approximately $5 million in USDT. 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