Justin Sun, the founder of TRON, is back in the limelight with a massive transaction involving Ether (ETH), the second major digital currency after Bitcoin. This transaction not only reflects confidence in Ethereum as a long-term investment asset, but also marks a new era in crypto investment strategy.
Justin Sun Deposit 120,000 ETH
Recently, Sun made an impressive deposit of 120,000 EETH, which equates to over $300 million, into Swell L2, an emerging blockchain ecosystem. EETH, or Ether.fi Staked ETH, is a non-custodial liquid staking token that allows its holders to participate in the Ethereum network while maintaining the liquidity of their assets.
The address associated with Sun, reported by Colin Wu, a crypto journalist, has transferred this significant amount of EETH, which accounts for 46.6% of the total deposit in Swell L2. This is a bold and strategic move, given that Swell L2 is part of a fast-growing segment of Ethereum's liquid restaking protocol, which is attracting interest from retail and institutional investors.
How to Buy Crypto:
Use the Same Address
In March 2024, the same address was identified as the party transferring 120,000 ETH to EtherFi, a restaking protocol that allows participants to maintain control over their keys while earning staking returns. Currently, the wallet holds a significant amount of ETH, demonstrating Sun's commitment to the Ethereum ecosystem.
However, amid these large transactions, the price of ETH experienced a decline, reflecting the general volatility of the crypto market. The price of ETH is currently at $3,095 (approximately Rp49,573,900.00), with a marginal decrease of 0.46% in the last 24 hours. Despite this, Ethereum's market capitalization remains strong, with a value of $371,662,333,000 (around Rp5,950 trillion), placing it in the top spot in the crypto market, just below Bitcoin.
How to Buy Crypto:
Conclusion
The transaction highlights a growing trend where prominent figures in the crypto industry are starting to use innovative staking solutions. Sun's market activity also shows its views on the possibility of earning passive income from liquid staking and the growth of broader economic participation.
Cek Harga Crypto Hari Ini:
Cara Beli Crypto di Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Ethereum ETF Approval Process Hindered, According to Justin Sun
TRX Staking Guide: Start Earning Passive Income with Tron
5 Altcoin Transactions from the Biggest Crypto Whales This Week, Check More
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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