Ethereum

when

Spot

<p>There are reports that Justin Sun, the founder of Tron, transferred 29,920 ETH worth $119.7 million to HTX on December 8 after Ethereum’s price crossed $4,000.</p> 
<p>Just 3 days prior, he made a transfer of 20,000 ETH valued at $76.3 million to the same platform, when Ethereum climbed above $3,800. Now, people are starting to wonder if Sun is cashing out, or if he is setting himself up for bigger wins.</p> 
<p>According to <a href="https://platform.spotonchain.ai/en/entity/278" target="_blank" rel="noreferrer noopener nofollow">Spot On Chain</a>, Sun has been actively buying Ethereum throughout the year. From February to August, he bought 392,474 ETH for $1.19 billion at an average price of $3,027 per token. Lately, he’s been sending Ethereum to exchanges, transferring 41,630 ETH (worth $145.9 million) in November and December, with $366 million in profits from these transactions so far.</p> 
<p>He’s also staking tokens. He recently sent $1.44 million in EIGEN tokens and $516,000 in ETHFI tokens to HTX, showing he’s still betting on this bull run.</p> 
<p>Ethereum has had a strong run. Last week, on Friday, it hit $4,017, up 26% for the month. The price has since dipped by 3% to $3,891 in the last 24 hours.&nbsp;</p> 
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  <img decoding="async" width="860" height="420" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/ETHUSD-Price-Chart-860x420.png" alt="ETHUSD Price Chart" class="wp-image-221691">
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   ETHUSD Price Chart | Source: <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>
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<p>However, On-chain analyst Ali thinks Ethereum could break its old records if it gets past $4,540. But if it falls below $3,560, the momentum could slow down. In a recent tweet on X, he said “There is nothing preventing #Ethereum $ETH from reaching new all-time highs. The only modest resistance zone ahead is around $4,540. But as long as the $3,560 demand zone holds, the odds favor the bulls!”</p> 
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  <img decoding="async" width="860" height="286" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/Ali-Charts-believe-ETH-could-still-reach-a-new-ATH-860x286.png" alt="Ali Charts believe ETH could still reach a new ATH" class="wp-image-221693">
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   Ali Charts believe ETH could still reach a new ATH | Source: <a href="https://x.com/ali_charts/status/1865393826925584769" target="_blank" rel="noreferrer noopener nofollow">X</a>
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<p>The rally was due to a strong inflow into Ethereum ETFs. Last week, BlackRock’s ETF alone brought in $573 million, contributing to a total of $837 million across all Ethereum ETFs, based on data from <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener">SoSo Value</a>.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/11/29/ethereum-etfs-outshine-bitcoin-funds-over-thanksgiving-week/" target="_blank" rel="noreferrer noopener">Spot Ethereum ETFs Outshine Bitcoin Ahead Thanksgiving Week</a></p> 
</blockquote>

Justin Sun Moves $119M ETH as Price Hits $4K

The Crypto Times

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