Recent market activity for Ethereum (ETH) has been quite active, with notable individuals and organizations engaging in large-scale transactions. As Ethereum approaches the critical $4,000 resistance level, Tron founder Justin Sun is rumoured to have sold off huge sums of the cryptocurrency.
Justin Sun’s Major ETH Deals
Since early November, Sun has put 41,630 ETH ($145.9 million) into exchanges—39,000 ETH to HTX and 2,630 to Poloniex, averaging $3,505. Justin Sun, the creator of Tron and Crypto Star, has made big Ethereum transactions. Ethereum Whales: Sun sent HTX (formerly Huobi) 20,000 ETH worth $76 million on December 5, 2024. Sun has put 41,630 ETH ($145.9 million) into exchanges since early November.
Most transfers are 39,000 ETH to HTX and 2,630 to Poloniex, with an average purchase price of $3,505. Sun usually affects trading mood. Therefore, his high-profile transactions have boosted market volatility. His actions show how influential parties can affect Ethereum’s price.
Crypto Whales Do the Same
Known as ‘whales,’ other prominent Ethereum owners have followed Sun. A mysterious wallet deposited 9,011 ETH ($35.34 million). Some traders believe increased sell pressure will cause a price reversal during these large swings. Big Ethereum holders have followed Justin Sun’s sell-offs. Ethereum’s Price Impacted: These market actors send large amounts of Ethereum to popular exchanges.
An unidentified wallet sent Coinbase 9,011 ETH, worth $35.34 million. These activities may imply rising sales pressure, which could reverse or plummet markets. These acts fuel market speculation as Ethereum approaches important price levels. Whales can affect prices and soothe or alarm investors. Ethereum continues to rise despite whale-induced conservatism. Investors notice these variations because they can indicate market shifts.
Possible Turnaround in the Market
Sell-offs by Justin Sun and other whales have stoked market reversal concerns. Massive liquidations reduce prices and create volatility. Investors and traders should watch market dynamics and whale activity that could affect ETH’s price. Whale activity, especially Justin Sun’s massive sell-offs, raises market volatility and Ethereum (ETH) reversal speculation. Heavy transactions like Sun’s $145.9 million ETH supplied to exchanges can imply liquidation and reduce prices. This sale pressure matches ETH, reaching $3,928 in critical resistance.
Previous market rejection at comparable levels produced corrections. Whale action worries me as other major wallets move ETH to Coinbase. Ethereum has gained over 5% in 24 hours, but analysts warn that whale sell pressure could derail bullish momentum. Support may be retraced if not maintained near current levels, emphasizing whale actions and technical indicators.
Summary
The Ethereum market is critical, with considerable whale activity and crucial resistance levels in play. Even as the prognosis is relatively favourable, there is still uncertainty due to the activities of significant holders like Justin Sun. Ethereum’s Price Impacted: To manage the changing terrain, market participants need to remain educated and analyze both technical indicators and on-chain data.
