Justin Sun Deposits $119.7M in ETH to HTX After ETH Surges Past $4K
- Justin Sun deposited 29,920 ETH worth $119.7M into HTX after Ethereum hit $4,000.
- His total ETH investment of 392,474 ETH has generated $366M in profits.
Justin Sun, the founder of Tron, deposited 29,920 ETH worth $119.7 million into HTX just nine hours ago, coinciding with Ethereums price surpassing the $4,000 threshold. This substantial transaction is part of a broader investment strategy where Sun accumulated 392,474 ETH between February and August of this year. The average purchase price for this ETH was $3,027 per unit, totaling an investment of approximately $1.19 billion.
Justin Sun (@justinsuntron) further deposited 29,920 $ETH ($119.7M) to #HTX 9 hours ago, after the price surpassed $4K!
Spot On Chain (@spotonchain) December 8, 2024
This is part of the net 392,474 $ETH he allegedly acquired at an average of $3,027 ($1.19B) from February to August. Currently, he has an est. total profit of https://t.co/aaZ5ZvazYg pic.twitter.com/CRvsuNFx6v
Currently, Suns estimated profit from this massive Ethereum investment stands at $366 million, reflecting a 30% return. This calculation excludes staking rewards and airdrops, which could significantly enhance his overall earnings.
In addition to the ETH deposit, Sun transferred 322,119 EIGEN tokens worth $1.44 million and 175,021 ETHFI tokens valued at $516,000 into HTX. Both token transfers are attributed to staking rewards derived from his Ethereum holdings.
Suns market activity reflects a deliberate and consistent strategy. On December 6, Ethereums price rallied beyond $3,800. Sun made another significant deposit of 20,000 ETH worth $76.3 million into HTX. When combined with his latest transactions, Suns total ETH deposits since November now amount to 41,630 ETH, with an estimated value of $145.9 million.
Suns Tactical Crypto Investments
In November, Sun deposited 39,000 ETH into HTX and 2,630 ETH into Poloniex, with an average purchase price of $3,505 per ETH. These strategic transactions occurred during Ethereums price recovery, further emphasizing his ability to capitalize on bullish market conditions. This calculated engagement showcases Suns commitment to leveraging market rallies to maximize returns.
His pattern of depositing ETH during upward price trends demonstrates a clear understanding of timing in cryptocurrency markets. These well-planned moves highlight the importance of strategic investment for large-scale players seeking to optimize profits in the volatile crypto landscape. As Ethereum maintains its bullish momentum, Suns investment activities remain a focal point for the crypto community.
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Read more: https://thenewscrypto.com/justin-sun-deposits-119-7m-in-eth-to-htx-after-eth-surges-past-4k/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
