Justin Sun, the founder of Tron (TRX), recently moved 29,153 Ethereum (ETH) units worth $96.7 million to the HTX exchange. According to Spot On Chain data, since November 10, he has transferred a total of 227,000 Ethereum units worth approximately $807 million to this exchange. The average purchase price of these Ethereums for Sun has been around $3036. Meanwhile, Sun has started staking 96,580 Ethereum units worth $322.7 million on platforms like Lido Finance and EtherFi. Analysts believe these assets will likely be used for future transfers to HTX, indicating Sun’s continuous cash management. Recent Ethereum movements by Justin Sun have raised concerns about extensive selling, but he has dismissed these rumors as part of the natural process of transferring Ethereum between wallets. However, the Ethereum price has dropped by about 2% in the past 24 hours, approaching $3350, and some analysts have raised the possibility of it dropping to $2800. In the final days of 2024, the Ethereum market and other digital currencies have come under selling pressure. Ethereum bulls have struggled to keep the price above the $3500 resistance level, increasing the likelihood of a drop below $3,000. Analysts believe that with the formation of an inverse head and shoulders pattern, Ethereum may find support around $2800 and then start its upward trend. According to the famous analyst Charting Guy, the Ethereum price may reach $7080 by April 2025. Another analyst named Crypto Rover has predicted that Ethereum’s upward trend will start from January 1, 2025. Currently, the Ethereum price is around $3350, and its market value has reached $403.87 billion. According to Coinglass data, the amount of liquidated Ethereum positions in the past 24 hours has reached $38.3 million, of which $27.52 million were related to long positions. You can view the prices of all tokens and cryptocurrencies live and instantaneously on the real-time digital currency price page.
