Justin Sun Sparks Market Concern by Transferring Major Ethereum Shares to Poloniex

Crypto-entrepreneur and founder of Tron Blockchain, Justin Sun, recently caused market unease by transferring a large portion of his Ethereum (ETH) to crypto exchange Poloniex, of which he is alleged to be the owner. The recent transaction caught the attention of on-chain analysis platform LookOnChain, revealing a transfer of approximately 23,000 ETH, valued at around $43 million to the popular crypto exchange Poloniex. Justin Sun’s ETH Transfer The transfer of 23,000 ETH, equating to around $43 million, marks the latest of Sun’s notable transactions involving large quantities of Ethereum being moved to Poloniex. Currently, Sun holds 163 ETH in the wallet address 0x3DdfA8eC3052539b6C9549F12cEA2C295cfF5296. Sun is known for his significant Ethereum transfers to Poloniex, with a notable transaction in December 2021, transferring 6,500 ETH. Coincidentally, following this transfer, Ethereum’s price dropped from around $1,350 to roughly $1,151 in the days that followed. It’s worth noting that Sun made seven separate transactions […] The post Justin Sun Sparks Market Concern by Transferring Major Ethereum Shares to Poloniex appeared first on COINTURK NEWS.