Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ETHEREUM NEWS»Justin Sun transfers $100 million to Binance, stacking Ethereum?
ETHEREUM NEWS

Justin Sun transfers $100 million to Binance, stacking Ethereum?

By Crypto FlexsMarch 1, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Justin Sun transfers 0 million to Binance, stacking Ethereum?
Share
Facebook Twitter LinkedIn Pinterest Email

Justin Sun, co-founder of Tron, a smart contract platform for deploying decentralized applications (dapps), is once again moving and shuffling millions of dollars. According to Lookonchain data Sun reportedly transferred 100 million USDT to Binance on February 29, just days after transferring the massive sum earlier this week.

Justin Sun transfers 100 million USDT to Binance | Source: Lookonchain via X

Justin Sun Has Millions of ETH: Will Co-Founder Buy More?

From February 12 to 24, wallets associated with Sun acquired 168,369 ETH at an average price of $2,894. The purchase, valued at approximately $580.5 million, currently holds unrealized profits of approximately $95 million. Considering the recent surge in demand for cryptocurrencies, especially top coins like Bitcoin and Ethereum, this could become profitable.

Ethereum price rises on February 29 |  Source: ETHUSDT on Binance, TradingView
Ethereum price rises on February 29 | Source: ETHUSDT on Binance, TradingView

Looking at the Ethereum price chart, we can see that ETH is in a clear upward trend, rising from around $2,200 in early February to over $3,450 at the time of writing. Considering this pace and institutional interest in powerful crypto assets, including ETH, it is very likely that the second most valuable coin will rise.

As Bitcoin approaches $70,000, the odds of Ethereum moving higher toward its all-time high of around $5,000 also increase.

Since ETH already has a large amount of coins, there is speculation that the co-founders will purchase twice as many coins. The cryptocurrency community will continue to watch the address until this happens and there is solid on-chain data to support the purchase.

Spot Ethereum ETF and Dencun upgrades are major updates.

So far, optimism is high, especially among the broader altcoin community. As Bitcoin races to hit new all-time highs backed by billions of dollars from the agency, eyes will be on the U.S. Securities and Exchange Commission (SEC). There are several applications for spot Ethereum exchange-traded funds (ETFs).

The agency did not provide a definitive timeline for approving or rejecting derivative products. There is regulatory uncertainty about the status of ETH, which is a significant headwind that could delay or even prevent timely approval of this product.

Nonetheless, the community is looking forward to the next communication in May. If the spot Ethereum ETF is successful, the coin is likely to hit an all-time high following Bitcoin.

But before that, attention is focused on Denkun’s expected implementation. The upgrade addresses issues facing Ethereum, including scalability. With Dencun, Ethereum developers hope to lay the foundation for further improvements in throughput in the coming years.

Higher throughput means lower transaction fees and a plethora of user experiences. This upgrade could go a long way in solidifying Ethereum’s role in cryptocurrencies, fending off stiff competition from others including Solana and BNB Chain.

Featured image by DALLE, chart by TradingView

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

CUDIS bets on longevity exercises by betting on wearable, AI and solana tokens.

June 8, 2025

Hash research CEO is appointed chief policy officer at the presidential office

June 7, 2025

Ether Leeum’s imminent brake out in major chart patterns

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

Circle refused to buy $ 5 billion in Ripple. It is worth more than $ 20 billion after NYSE debut.

June 8, 2025

NVIDIA unveils the Nemotron-H reasoning model for enhanced throughput.

June 8, 2025

Render Royale May 2025: The winner was unveiled on a fantastic display.

June 8, 2025

40% mask token conflict in Trump vs. Elon Musk

June 8, 2025

Gemini IPO submissions will bring the Winklevoss Crypto company to Wall Street.

June 8, 2025

CUDIS bets on longevity exercises by betting on wearable, AI and solana tokens.

June 8, 2025

VEXI Village unveils new features and events in June.

June 7, 2025

Solana Whale will not announce $ 17 million in four years. Should I worry?

June 7, 2025

HOLONYM’s Human Network: Convert on boarding on boarding on human -friendly keys

June 7, 2025

The SEC gets $ 1.1m case when Crypto Schemer crosses the court.

June 7, 2025

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Circle refused to buy $ 5 billion in Ripple. It is worth more than $ 20 billion after NYSE debut.

June 8, 2025

NVIDIA unveils the Nemotron-H reasoning model for enhanced throughput.

June 8, 2025

Render Royale May 2025: The winner was unveiled on a fantastic display.

June 8, 2025
Most Popular

SUI Targets NEAR to Beat Litecoin: Why the $2.40 Level Matters

October 20, 2024

Ark and 21Shares Modify Spot Ethereum ETFs with Cash Creation/Redemption Policy

February 8, 2024

As the cryptocurrency market recovers, Memecoins is gaining attention.

May 16, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.