Ethereum

Value

Solana

Billion

<ul> 
 <li>Justin Sun, founder of Tron, recently transferred 29,920 ETH worth $119.7 million to HTX amid Ethereum’s price surge past $4,000.</li> 
 <li>Additionally, Ethereum’s Total Value Locked (TVL) has surged by $7.79 billion in a week, reaching $77.15 billion.</li> 
</ul> 
Justin Sun, Tron’s Founder has frequently made <a href="https://www.ethnews.com/ethereum-etfs-report-a-net-positive-flow-with-a-record-inflow-of-428-million/" target="_blank" rel="noopener">headlines</a> in relation to Ethereum due to his significant investments in Ethereum. Recent developments have shown that the founder of Tron recently unloaded a whooping 29,920 ETH worth $119.7 million to HTX soon after ETH’s market price surged past $4,000. 
This transaction, coming from a big name in the crypto sector has raised eyebrows. Some are wondering whether Sun is taking profits or positioning for further gains. 
Ethereum has been in many investor’s cross-hairs due to its current price momentum. Crypto pundits and market participants are buzzing with excitement as they predict potential highs for the second-largest cryptocurrency by market cap. 
<h3 id="strong-justin-sun-s-strategic-ethereum-investments-since-november-strong">Justin Sun’s Strategic Ethereum Investments Since November</h3> 
Justin Sun, a prominent figure in the cryptocurrency world, has made substantial <a href="https://www.ethnews.com/revealed-why-justin-sun-is-really-moving-millions-in-bitcoin-to-binance/" target="_blank" rel="noopener">investments</a> on Ethereum. Recent data from Spot On Chain reveals that he deposited 29,920 ETH, worth approximately $119.7 million, to the Huobi exchange (HTX) on December 8th, 2023. 
This significant <a href="https://platform.spotonchain.ai/en/entity/278" target="_blank" rel="noopener">transaction</a> followed an earlier deposit of 20,000 ETH on December 5th, as Ethereum’s price surged past $3,800. 
Between February and August 2023, Sun reportedly acquired a staggering 392,474 ETH for a total of $1.19 billion. With Ethereum briefly touching the $4,000 mark, Sun’s earlier investments have yielded an estimated profit of $366 million, excluding potential staking rewards and airdrops. 
Furthermore, since early November, Sun has transferred 41,630 ETH to centralized exchanges, primarily HTX and Poloniex, at an average price of $3,505. Additionally, he has deposited staking rewards, including EIGEN and ETHFI tokens, to HTX, highlighting his strategic approach to capitalizing on Ethereum’s bullish momentum. 
Meanwhile, ETH has undergone a slight decline in the daily charts and is at the time of writing exchanging hands with $3,855.69 making after a 3.10% decline. Additionally, the digital asset with a market cap of $463.84B has surged more than 5% and 26% in the past week and month respectively. 
On-chain analyst Ali predicts that Ethereum could potentially reach new all-time highs. The next major hurdle is around $4,540. However, maintaining the current bullish trend hinges on holding the $3,560 support level. If Ethereum can sustain this momentum, it may pave the way for even higher price targets. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 There is nothing preventing <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> 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! <a href="https://t.co/rggCAWOCA9">pic.twitter.com/rggCAWOCA9</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1865393826925584769?ref_src=twsrc%5Etfw">December 7, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="strong-ethereum-tvl-surges-strong">Ethereum TVL Surges</h3> 
Ethereum’s Total Value Locked (TVL) has experienced a dramatic $7.79 billion increase over the past week, solidifying its position as the blockchain with the highest TVL growth during this period. This significant development coincides with ETH’s temporary surge to $4,000, indicating a resurgence of investor confidence in the cryptocurrency. 
As of December 2nd, Ethereum’s Total Value Locked (TVL) stood at approximately $70 billion. However, this figure has since surged to $77.15 billion, highlighting the platform’s increasing popularity and user adoption. 
TVL is a critical metric within the cryptocurrency and DeFi ecosystem. It represents the total value of assets locked or staked in decentralized applications (dApps) and smart contracts built on a specific blockchain. A higher TVL indicates greater user confidence, adoption, and liquidity within the ecosystem. 
&nbsp; 
The post <a href="https://www.ethnews.com/justin-sun-unloads-119m-eth-as-ethereum-adds-7-79-billion-in-a-week-outpacing-solana-and-tron/">Justin Sun Unloads $119M ETH as Ethereum’s TVL Adds $7.79 Billion in a Week, Outpacing Solana and Tron</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Justin Sun Unloads $119M ETH as Ethereum’s TVL Adds $7.79 Billion in a Week, Outpacing Solana and Tron

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