Justin Sun Wallet Moves 16,236 ETH to HTX, Binance Gets 4,500 ETH!

Key Points:

• A significant crypto manoeuvre involving over $37 million worth of ETH has just been executed.
• The value of the ETH has increased by +17.3%, highlighting a lucrative investment strategy.

According to on-chain analyst Yu Jin, a notable address suspected to be owned by Justin Sun wallet has been making major moves in the cryptocurrency market.

This address, 0x5ac…17e, was tagged as part of bottom-fishing activities on 5 August. It acquired 16,236 ETH at an average price of $2,279 per token for approximately $37 million.

Read more: Surprising Inflows: Ethereum ETFs Garner $49M Amid ETH Price Drop

4,500 ETH Moved from HTX to Binance Post Market Surge

Only an hour later, the Justin Sun wallet address sent all 16,236 ETH to HTX. Afterwards, the money, in part 4,500 ETH, was transferred from HTX to Binance. This tactical move has sparked interest and speculation in the crypto community about what this shift in money means and what it could mean for the markets.

In the most surprising turn of events, the price value of the purchased ETH surged drastically ever since. The initial investment of $37 million now sits at around $43.41 million, adding a handsome return of $6.41 million, or +17.3%, over just four days. This steep appreciation only goes to underline the highly volatile nature of cryptocurrency markets and the potential for hefty returns to be reaped from investments made at the right time.