Justin Sun, the founder of Tron, has initiated another transfer of Ethereum (ETH) to his affiliated trading platform, HTX. According to data from Spot on Chain analytics platform, these transfers were made on Christmas day amid the start of Ethereum price recovery. Sun has transferred a total of 70,182 ETH to HTX, valued at approximately $244.9 million at the time of transaction. Sun converted 42,905 ETH from Lido Finance and transferred another 27,277 ETH from EtherFi. Despite these transactions, Sun recently provided explanations about his true intentions, claiming these transfers are part of internal operations and cash redistribution among trading platform wallets. He remains committed to the Ethereum ecosystem and holds a long-term bullish view on the protocol. These recent transactions coincide with Ethereum’s price entering a recovery phase during the Christmas rally, trading at $3,535 with a daily growth rate of 4.5%. It appears Ethereum may have experienced its recent price dip and could potentially reach five-digit figures in the current bullish cycle.
