🚨 Justin Sun Sends $500M ETH to Binance as Whales Buy the Dip 🚀
In a significant move that has the crypto market buzzing, HTX, a crypto exchange advised by Tron founder Justin Sun, has transferred approximately 166,000 ETH, valued at over $518 million, to Binance over the past week. This large-scale transfer has sparked considerable speculation within the community.
While such substantial deposits could signal potential selling pressure, the narrative is being balanced by reports of "whales" actively buying the dip. This suggests that despite the inflows to Binance, major investors see current prices as an opportune moment to accumulate Ethereum. Notably, one whale wallet reportedly withdrew 19,550 ETH worth $70.7 million from FalconX, and in an institutional play, BlackRock is said to have acquired a massive 307,461 ETH, totaling $1.11 billion, in just two days.
Justin Sun has a history of major ETH movements, both inflows and outflows, and has been consistently accumulating Ethereum recently. His actions often attract market attention and can influence sentiment. The current scenario presents a mixed signal: significant supply entering an exchange, counteracted by strong accumulation from large holders, hinting at underlying bullish confidence in ETH.
