Tron founder Justin Sun’s aggressive ETH selloff, totaling $143 million last week, has contributed to a 17% price drop.Despite this, bullish technical patterns suggest Ethereum could recover and target $10,000 in 2024 after retesting lower support levels.
Tron founder Justin Sun’s aggressive ETH selling spree has drawn significant attention in the crypto community, particularly as Ethereum struggles to maintain key support levels. Sun’s recent offloading of ETH has coincided with a sharp downturn in Ethereum’s price, leaving analysts and investors questioning the broader implications for the second-largest cryptocurrency by market cap.
As we have previously reported, Justin Sun has been systematically selling Ethereum, with his latest move involving the liquidation of 39,999 ETH, valued at $143 million. Blockchain analytics firm Spot On Chain reported that Sun redeemed these tokens from liquid staking platforms Lido Finance and EtherFi before depositing the proceeds into HTX (formerly Huobi Exchange).
This recent transaction follows a broader trend: since November 10, Sun has sold a total of 108,919 ETH worth approximately $400 million. The sales predominantly occurred near Ethereum’s local price peaks, suggesting a strategy to capitalize on short-term gains. Currently, Sun has another 42,904 ETH (valued at $139 million) in the process of unstaking from Lido Finance, potentially signaling additional sell pressure.
Impact on ETH’s Price
The timing and scale of Sun’s sales have contributed to significant market turbulence. Ethereum’s price has dropped by 17% over the past week, plummeting from near $4,000 to below $3,500. Analysts are now warning that Ethereum could test the $3,000 support level before mounting its next rally.
Popular crypto analyst IncomeSharks observed that Ethereum experienced a “low-volume weekend” after a volatile week for broader markets. The On-Balance Volume (OBV) indicator remains steady, suggesting some market stability. However, the selling pressure from whales like Sun has cast a bearish shadow, increasing the likelihood of further dips.
While short-term sentiment appears bearish, some analysts maintain a bullish outlook for Ethereum. Prominent chartist “I am Crypto Wolf” pointed out that Ethereum’s price is forming an inverse head-and-shoulders (iHS) continuation pattern. If this setup holds, it could provide the momentum needed for Ethereum to surpass the $4,000 resistance and target $10,000 by mid-2024.
However, before a breakout occurs, analysts believe Ethereum might retest the $3,000 level. Such a dip could attract buyers seeking an entry point for the anticipated long-term rally.
Justin Sun’s ETH selling spree has undoubtedly amplified market volatility, pushing Ethereum prices lower and sparking bearish sentiment. However, the long-term prospects for Ethereum remain strong, with bullish technical patterns hinting at a potential recovery. For now, investors will be closely monitoring Sun’s next moves and their impact on the broader market.
Meanwhile, the second largest digital asset by market cap is swapping hands with $3,439.70  after a 3.64% surge in the past 24 hours. Additionally, with a market cap of $413.99B, the asset has recorded a decline of 14.11% in the past week.

#JustinSun #ETHDump #Ethereum #BinanceAlphaAlert $ETH $SOL $BTC

Amidst speculation about an Ethereum sell-off, Justin Sun has completely denied this information. The founder of Tron stated that the transactions thought to be a sell-off are simply the conversion of ETH between different wallets managed by his team.
Sun affirmed: "These transactions are completely normal and there is no intention to sell off. We still have confidence in Ethereum's potential and will continue to support this ecosystem."

Donald Trump’s crypto venture, World Liberty Financial, swapped $10 million worth of wrapped Bitcoin (cbBTC) for tokens tied to its project adviser, Justin Sun.
On-chain data from Nansen confirms that yesterday, the project’s wallet exchanged all 103 cbBTC tokens for WBTC, the first major wrapped Bitcoin token.
Promoted as a decentralized finance (DeFi) lending platform, World Liberty isn’t even fully operational yet. Wrapped Bitcoin like cbBTC and WBTC allows Bitcoin holders to access DeFi applications on Ethereum. 
Justin, meanwhile, responded to the speculations, saying, “This is their own financial choice. I have nothing to do with it.”
Justin Sun’s role and financial involvement
Justin, a controversial crypto billionaire, joined the World Liberty project in November after investing $30 million. His investment reportedly pushed the venture to a stage where Trump could begin to profit from the business.
Known for stunts like spending $6.2 million on a banana duct-taped to a wall, Justin has faced both praise and criticism in the blockchain space. But his involvement in World Liberty isn’t his only tie to wrapped Bitcoin.
In August, BitGo, the custody firm behind WBTC, partnered with BiT Global, a Hong Kong-based firm with connections to Sun. This collaboration stirred controversy. Coinbase reacted by delisting WBTC and launching its own wrapped Bitcoin version, cbBTC.
BiT Global sued Coinbase earlier this month over the delisting, arguing the move hurt its business. Coinbase defended its decision, citing risks from Sun’s “potential control” over WBTC. A federal judge sided with Coinbase, rejecting BiT Global’s request to reverse the delisting.

#TrumpCrypto #CryptoVenture #JustinSun #CryptoNews #TokenPurchase $BTC $ETH $XRP

Significant Token Swap
World Liberty Financial, backed by the family of newly elected U.S. President Donald Trump, made a major move on Wednesday by swapping cbBTC, Coinbase's new wrapped bitcoin, worth $10 million, for WBTC, a competing token.
Wrapped Bitcoin and the Coinbase vs. BiT Global Dispute
Wrapped Bitcoin (WBTC) allows the utilization of the largest cryptocurrency in decentralized finance (DeFi) on blockchains other than Bitcoin. Coinbase introduced its own token, cbBTC, in September and later announced plans to delist WBTC due to its stringent listing standards.
This decision led to a legal battle between Coinbase and BiT Global, the manager of WBTC. However, on Wednesday, the court ruled in favor of Coinbase, allowing the planned delisting of WBTC to proceed.
Justin Sun as a New Advisor
A key figure behind the scenes is Justin Sun, the founder of the Tron blockchain, who was named one of the most influential figures in the crypto industry in 2024. Sun has previously faced allegations of fraud and market manipulation in the U.S., which he denies.
Recently, Sun became an advisor to World Liberty Financial after investing $30 million in the platform in exchange for WLFI tokens.

World Liberty Financial's Market Activity
While the company has not explicitly explained the reasoning behind its cbBTC to WBTC swap, market data reveals significant activity in the past week. World Liberty Financial invested in tokens such as Aave (AAVE), Chainlink's LINK, and Ethena's ENA, all of which are projects linked to the company through partnerships and integrations.
Justin Sun's Connection to WBTC
Although Sun has no direct ties to WBTC, his influence is evident. In August, BitGo, the primary custodian of WBTC, announced plans to decentralize the token’s management among multiple entities, including BiT Global, a strategic partnership involving Sun's Tron ecosystem.
Board member Robert Liu noted that Sun's involvement is beneficial for WBTC due to the success of his ventures, such as the Tron blockchain and the HTX exchange.
Tron's Dominance
According to Liu, Tron commands more than 50% of the global market share and manages stablecoin assets exceeding $60 billion. This success bolsters confidence in Tron's involvement in other crypto projects like WBTC.
“People have no issues placing massive volumes of stablecoins on the Tron blockchain due to its high liquidity and stability,” Liu concluded.

#WorldLibertyFinancial , #donaldtrump , #JustinSun , #BTC☀ , #CryptoNewss

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Justin Sun and the CoinDesk Article Dispute
Justin Sun's team reportedly reached out to Bullish, the owner of CoinDesk, requesting the removal of an article describing the incident where Sun ate the world's most expensive banana. The article, published in late November, detailed how Sun consumed an art piece by Maurizio Cattelan valued at $6.2 million.
Request to Remove the Article
According to a report by Fortune on December 18, Sun's team disagreed with the tone of the article and asked Bullish, which acquired CoinDesk for $75 million, to have it removed. The article was titled:
“I Watched Justin Sun Eat the World’s Most Expensive Banana. I Don’t Get It.”
Sun’s team found the content inappropriate and contacted Bullish to demand its removal.
Resistance from CoinDesk
The CoinDesk editorial team opposed the removal of the article. During an internal meeting, they demanded that the piece be reinstated with an editor’s note. However, the article is no longer available on the CoinDesk website, though it remains accessible on Yahoo News.
Previous Legal Disputes and CoinDesk's Independence
The article noted that Sun’s legal team had previously threatened legal action against media outlets linking the Tron blockchain to illegal activities. Interestingly, Tron is one of the primary sponsors of the CoinDesk Consensus conference series, raising questions about editorial independence.
Bullish and Leadership Changes at CoinDesk
According to the report, Bullish CEO Tom Farley, CoinDesk Editor-in-Chief Kevin Reynolds, and Justin Sun’s spokesperson all declined to comment on Fortune's findings. Additional sources stated that Matt Murray, Chairman of the CoinDesk Editorial Board, resigned on December 16 but did not respond to requests for comment.
In 2023, Bullish acquired CoinDesk from Digital Currency Group. This acquisition sparked concerns about the potential impact on the platform’s editorial independence. Following the acquisition, former Wall Street Journal Editor-in-Chief Matt Murray was appointed Chairman of the CoinDesk Editorial Board.
Conclusion
The dispute between Sun’s team and CoinDesk highlights tensions between media independence and commercial interests. The request to remove the article has raised concerns about press freedom and emphasized the importance of transparency in the relationship between media platforms and their owners.

#JustinSun , #TRON✅ , #BANANA , #CryptoNewss , #CryptoNewsCommunity

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TRON founder Justin Sun has requested the withdrawal of 52,905 ETH from Lido Finance, valued at $209 million. This transaction has drawn attention as historical data suggests it could impact Ethereum (ETH) prices.
Strategic ETH Accumulation and Massive Gains
Sun's withdrawal request is part of a broader ETH accumulation strategy. Reports indicate that Sun has purchased a total of 392,474 ETH at an average price of $3,027, currently yielding an estimated $349 million profit.
This is not the first time Sun has executed a significant withdrawal.On October 4, 2023, Sun withdrew 80,253 ETH worth $131 million and transferred it to Binance within four days. This action led to a 5% drop in ETH prices.
Analysts now speculate whether Sun intends to repeat a similar move—transferring the withdrawn assets to exchanges for potential sell-offs.

The Importance and Vulnerability of Lido Finance
The $209 million withdrawal highlights Lido Finance's critical role in Ethereum's Proof-of-Stake (PoS) infrastructure. Lido is a key liquid staking protocol that allows users to stake ETH while remaining liquid through tradable stETH tokens.
Lido secures over 30% of all staked ETH on the Ethereum network, making it a cornerstone of the PoS ecosystem.Large withdrawals, such as Justin Sun's, raise concerns about liquidity and potential market impacts.
Historical Example: On August 5 this year, similar large-scale withdrawals, likely executed by whales, drove the price of ETH down from $3,317 to $2,419. This demonstrates that while Lido enhances flexibility with liquid stETH tokens, sudden withdrawals expose a critical vulnerability in staking protocols.

Impact of Large Withdrawals and Market Balance
Withdrawals from Lido are not instantaneous, as they must pass through Ethereum's staking queue. However, significant moves like Sun's can signal major market shifts. Should other large stakeholders follow suit, it could create an imbalance between staked and unstaked assets.
Diversification into EIGEN Token
In addition to withdrawing ETH, Sun also deposited $964,000 worth of EIGEN tokens on the HTX exchange. EIGEN is the native token of EigenLayer, a protocol that enhances blockchain security by enabling collateral restaking and protection against intersubjective faults.
This move indicates Sun's intention to diversify liquidity across established tokens like ETH and riskier tokens with high growth potential.
Conclusion
Justin Sun's withdrawal of $209 million in ETH from Lido Finance is a significant event that may influence Ethereum's market dynamics. Large withdrawals not only highlight the vulnerability of liquid staking protocols but also emphasize the importance of monitoring market movements and the actions of major investors.

#JustinSun , #TRON✅ , #etherreum , #CryptoMarketMoves , #cryptowhales

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For over a decade, the true identity of Satoshi Nakamoto, the creator of Bitcoin, has remained a mystery. While numerous individuals have beeny speculated to be behind the pseudonym, the truth remains elusive. In this article, we'll delve into the possibilities of four intriguing candidates: Jack Ma, Justin Sun, CZ, and Elon Musk.

#JACKMA
THE ALIBABA CONNECTION
Jack Ma, the co-founder of Alibaba Group, has been speculated to be Satoshi Nakamoto due to his entrepreneurial spirit and technological expertise. With his background in computer science and experience in building successful technology companies, Ma possesses the skills and expertise required to create Bitcoin.

However, there is no direct evidence linking Jack Ma to Satoshi Nakamoto. Ma's focus on e-commerce and fintech, rather than cryptocurrency, also raises questions about his involvement in Bitcoin's creation.

THE TRON CONNECTION
#JustinSun the founder of TRON, has also been speculated to be Satoshi Nakamoto due to his involvement in the cryptocurrency space and his entrepreneurial achievements. With his experience in building and leading successful cryptocurrency projects, Sun demonstrates expertise in blockchain technology and cryptocurrency markets.

However, there is no concrete evidence linking Justin Sun to Satoshi Nakamoto. Sun's focus on building TRON and its ecosystem, rather than Bitcoin, also raises questions about his involvement in Bitcoin's creation.

#CZ
THE BINANCE CONNECTION
Changpeng Zhao (CZ), the CEO of Binance, has been speculated to be Satoshi Nakamoto due to his influence in the cryptocurrency space and his entrepreneurial achievements. With his experience in building and leading Binance, one of the largest cryptocurrency exchanges, CZ demonstrates expertise in cryptocurrency markets and blockchain technology.

However, there is no concrete evidence linking CZ to Satoshi Nakamoto. CZ's focus on building Binance and its ecosystem, rather than Bitcoin, also raises questions about his involvement in Bitcoin's creation.

#ELONMUSK
THE TESLA CONNECTION
Elon Musk, the CEO of Tesla and SpaceX, has been speculated to be Satoshi Nakamoto due to his entrepreneurial spirit and technological expertise. With his background in computer science and experience in building successful technology companies, Musk possesses the skills and expertise required to create Bitcoin.

However, there is no direct evidence linking Elon Musk to Satoshi Nakamoto. Musk's focus on space exploration, electric cars, and renewable energy, rather than cryptocurrency, also raises questions about his involvement in Bitcoin's creation.

THE SATOSHI ENIGMA: A COLLECTIVE EFFORT
As we explore the possibilities of each candidate, it becomes clear that the true identity of Satoshi Nakamoto may never be known. However, this mystery has led to a fascinating phenomenon – the collective effort to build and shape the future of cryptocurrency.
#Write2Earn
In this sense, we are all Satoshi. We are all contributing to the growth and development of the cryptocurrency ecosystem, driven by the principles of decentralization, transparency, and community-driven development.

As we continue to speculate about Satoshi's true identity, let us not forget the power of collective action and the importance of working together to build a better future for cryptocurrency.

THE SEARCH FOR SATOSHI CONTINUES, BUT THE SPIRIT OF SATOSHI LIVES ON THROUGH US ALL.