Ethereum

<ul><li>Justin Sun lost $280M as Ethereum dropped 20%, but he hasn&#39;t been liquidated, focusing on long-term industry support.</li><li>Spot On Chain revealed Sun&#39;s 377,590 ETH purchase since Feb 8, 2024, now below his $3,051 average buying price.</li><li>Sun refutes liquidation rumors, emphasizing non-leveraged trading and activities like staking and liquidity support.</li></ul>Tron founder Justin Sun suffered a significant financial setback as Ethereum plummeted by 20%. Renowned analytical platform Spot On Chain revealed in a recent X post that the sudden drop in ETH’s value resulted in an estimated loss of $280 million for Sun.Since February 8, 2024, Justin Sun has been steadily accumulating Ethereum. The platform findings indicate that he acquired 377,590 ETH through three separate wallets at an estimated cost of $1.15 billion. At the time of these purchases, the average buying price for Ethereum was around $3,051. However, the current trading price of Ethereum is now significantly below this average, reflecting the volatile nature of the cryptocurrency market.Despite the considerable loss, Justin Sun has not been liquidated. Addressing the rumors circulating in the market, Sun <a href="https://x.com/spotonchain/status/1820392013260620009" rel="noopener noreferrer nofollow">confirmed</a> in an X post that the rumors about his positions being liquidated were false. Sun highlighted that he and his team rarely engage in leveraged trading strategies, as they believe such trades do not significantly benefit the industry<a href="https://cryptotale.org/justin-sun-faces-280m-loss-as-ethereum-drops-20-report/" rel="noopener noreferrer nofollow">.</a><a href="https://cryptotale.org/justin-sun-faces-280m-loss-as-ethereum-drops-20-report/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Justin Sun Faces $280M Loss as Ethereum Drops 20%: Report

CryptoTale

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