In a series of transactions, an Ethereum wallet suspected to belong to Justin Sun, founder of Tron, purchased 91,316 ETH worth $259.1 million. The wallet, identified as 0x7a95, made the purchases after depositing 90 million USDT to Binance.
First, the whale wallet withdrew 10,136 ETH ($29.76 million) and 40 million USDT from the exchange. The large crypto transfers have sparked speculation that Sun owns the wallet and is accumulating Ethereum tokens.
Sun has not confirmed ownership of the 0x7a95 wallet. However, as a founder of Tron, a network sometimes considered an Ethereum competitor, his involvement would signal growing interest in Ethereum. The purchases come after Sun was tied to a $500 million crypto transfer last week.
Ethereum prices have climbed 17.65% in the last 30 days to the current $2,916. Trading volume has also raised 42.21% in 24 hours to over $21.5 billion. The market activity may relate to broader industry trends and strategic positioning by major crypto figures like Sun. Still, his plans for such a large Ethereum acquisition remain unclear.
