Ethereum

2024

Drops

Spot

Billion

<p>Justin Sun, a well-known cryptocurrency entrepreneur, may have lost $66 million after the price of <a href="https://blockchainreporter.net/price-prediction/ethereum-price-prediction/" data-type="post" data-id="66941">Ethereum (ETH) </a>fell by 10% today, according to Spot On Chain. Currently, it is trading above $2,850.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">Justin Sun may have lost $66M after the <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Ethereum</a> price plummeted 10% today!<br><br>From Feb to Jun, he allegedly bought 361K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> (est. cost: $1.1B) via 3 wallets, including:<br>– 169,604 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> via “0x7a9” in Feb at $2,870 avg<br>– 176,117 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> via “0x435” in Apr at $3,177 avg<br>– 15,416 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a>… <a href="https://t.co/bwIezvMRtj" target="_blank">pic.twitter.com/bwIezvMRtj</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1809138044861292918?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="sun-buys-361-137-eth-across-three-wallets-spending-1-billion">Sun Buys 361,137 ETH Across Three Wallets, Spending $1 Billion</h2> 
<p>According to the affidavit, from February till June, Sun used three separate wallets to purchase 361,137 ETH at a total cost of approximately $1 billion. In February, with wallet “0x7a9” he bought 169604 Eth with an average price of $2,870 for 1 Eth. In April, 176,117 ETHs were bought by him through the wallet “0x435” with the average price per ETH at $3,177. Lastly, in June, he purchases 15,416 ETH using “0xdbf” wallet at the average value of $3,474 per ETH.</p> 
<p>These wallets typically obtained ETH from Binance instantly after Sun bought a batch of stablecoins. Cryptocurrencies also remain very volatile and investing into them is always a risky move as Sun has discovered recently.</p> 
<h2 class="wp-block-heading" id="eth-price-drop-turns-justin-sun-s-58m-profit-into-66m-loss">ETH Price Drop Turns Justin Sun’s $58M Profit into $66M Loss</h2> 
<p>Just one day ago, it was reported that Sun had total a profit of $58 million in his <a href="https://www.ethereum.org/" target="_blank" rel="noopener">Ethereum</a> holdings. However, the drastic reduction of the price means the errant trader has lost $66 million, which was previously his gain.</p> 
<p>This case shows that digital currencies are highly volatile, and large value operations can lead to serious adverse consequences for investors.</p>

Justin Sun Loses $66M as Ethereum Drops 10%

Innholdsfortegnelse

BlockchainReporter

Andre artikler publisert på 5. juli 2024

German MP urges government to halt BTC sales in lieu of need for ‘strategic reserve’

New Bitcoin (BTC) Offer from Mt.Gox Creditors Waiting for 10 Years!

Bitcoin Fear and Greed Index Drops as Mt. Gox Repayments Begin After a Decade

KuCoin To Enforce 7.5% VAT On Nigerian Trades Amid Regulatory Changes

Multicoin Capital To Fund Crypto-Friendly US Candidates In Solana

Market Analysts Send Downward Signals To Crypto Assets

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!