Ranking
Categories
Historical Snapshots
Token unlocks
Yield
Trending
Upcoming
Recently Added
Gainers & Losers
Most Visited
Community Sentiment
Chain Ranking
Market Overview
CoinMarketCap 100 Index
Fear and Greed Index
Altcoin Season Index
Bitcoin Dominance
Crypto ETFs
Overall NFT Stats
Upcoming Sales
New Pairs
Trending Pairs
Meme Explorer
Gainers & Losers
Community Votes
Top Traders
Spot
Derivatives
Spot
Derivatives
Feeds
Topics
Lives
Articles
Converter
Newsletter
CMC Labs
Telegram Bot
Advertise
Crypto API
Site Widgets
Airdrops
Diamond Rewards
Learn & Earn
ICO Calendar
Events Calendar
Academy
Research
Videos
Glossary
- Justin Sun lost $280M as Ethereum dropped 20%, but he hasn't been liquidated, focusing on long-term industry support.
- Spot On Chain revealed Sun's 377,590 ETH purchase since Feb 8, 2024, now below his $3,051 average buying price.
- Sun refutes liquidation rumors, emphasizing non-leveraged trading and activities like staking and liquidity support.
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 confirmed 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.