Market Speculation Surrounds Justin Sun’s ETH Claims: Foundation Refutes Liquidation Allegations
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Justin Sun Denies ETH Liquidation Claims Amid Rising Market Speculation
In a recent statement, Justin Sun, the founder of Tron (TRX), has refuted allegations suggesting he sold substantial amounts of Ethereum (ETH). The rumors emerged following observations of significant ETH transfers to wallets associated with HTX (formerly Huobi) over the past month.
Sun clarified that the transactions were internal and not sales, stating “The rumors circulating online about us liquidating ETH are false. This is simply a transfer of ETH between our different wallets. We remain long-term bullish on the Ethereum ecosystem.”
This clarification aims to ease market participants’ concerns regarding potential impacts on ETH prices. The recent activity in Sun’s wallets has been linked to the sharp ETH price volatility observed recently, heightening fears of further downturns.
Ethereum’s Price Action
Ethereum’s price has been experiencing significant fluctuations over the past month, with some analysts pointing out a possible bottom being formed. This development has led many investors and traders to take a closer look at the asset’s fundamental factors as well as key resistance levels that may influence its future trajectory.
In recent times, Ethereum has seen considerable growth, which has sparked enthusiasm in the market. Some experts predict a potential upswing if certain technical conditions are met.
Source: cryptonewsland.com
