2024-08-09
Justin Sun was taking advantage of recent Ethereum price drop.
On August 6, 2024, the founder of Tron and advisor to Huobi Global,
had been actively buying Ethereum during the recent market dip.
According to a report, a wallet linked to Justin Sun purchased 14,884
ETH worth $35.97 million at an average price of $2,416.
This purchase was part of a larger strategy, as Sun has accumulated
a total of 392,474 ETH for the cost of $1.19 billion, now worth $995 million.
Despite the market downturn, Sun remains committed to his strategy
and has addressed rumors about his positions being liquidated, stating that he
rarely engages in leveraged trading strategies. The recent price corrections
have brought the value of his Ethereum holdings below $1 billion.
