Breaking News: Justin Sun’s Massive Ethereum Investment Shakes Up the Industry
Tron Founder Justin Sun has been in the spotlight for his strategic investments in Ethereum (ETH). His recent purchase of 1,614 ETH for $5 million at an average price of $3,097 per token on July 10 adds to his accumulating portfolio, which now totals approximately 362,751 ETH across three wallets, with an estimated value of $1.11 billion according to Spotonchain data.
Sun’s investment strategy seems to involve buying significant amounts of ETH during price dips and selling smaller quantities during peaks. For instance, he purchased 1,614 ETH for $5 million on July 10 and 1,449 ETH for $4.761 million on June 25. His portfolio, with a total purchase value of $1.136 billion for 372.751K ETH and an average purchase price of $3,046K, shows a realized gain of $355,154 and an unrealized gain of $21.076 million, reflecting the current appreciation of his remaining holdings.
Overview of the Portfolio
In addition to ETH, Sun’s portfolio is diversified across various tokens, with significant holdings in Staked Ether (STETH), TrueUSD (TUSD), wrapped Ether (EETH), wrapped stETH (WSTETH), and Shiba Inu (SHIB) tokens. The recent market volatility has impacted his portfolio, with a reported $66 million loss following a 10% drop in Ethereum’s price on July 5.
Read Also: Terra Classic Gets a Boost: Tax2Gas Module Implementation and More
Despite market volatility, Sun maintains a strong preference for Ethereum-related assets. Notably, his strategic movements include transferring 20 billion SHIB tokens worth $544,400 to a crypto exchange affiliated with his crypto empire in March. This aligns with his pattern of significant SHIB movements, as seen in his previous withdrawal of 79.33 billion SHIB from Binance in January, valued at $751,000 at the time.
Read Also: Exclusive Interview: The Shiba Inu Team Reveals Insights on SHIB ETF
Follow us on Twitter, Facebook, Telegram, and Google News
Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
