Tron founder Justin Sun recently withdrew 14,884 Ether (ETH) from Binance, coinciding with a dip in ETH prices below $2,000.
On the same day, Sun denied rumours about liquidating his positions, labelling them as "false." He also criticised leveraged trading, suggesting it offers little benefit to the industry.
With the addition of this fund, Justin now holds 392,474 ETH with an estimated cost of $1.19 billion and is now worth $995 million.
Justin Sun’s Latest Transactions. Source: Spot On Chain
Market Recovery and Sun's Moves
Despite the market turmoil, Ethereum has shown signs of recovery, trading above $2,500. The cryptocurrency gained over 10%, reaching a high of approximately $2,547. In parallel, major global stock indexes also faced significant declines, leading to heightened fear in the market.
Amid this volatility, Sun deposited $49 million worth of Tether (USDT) into HTX over the past three days. Notably, another significant player withdrew 16,236 ETH, valued at around $40 million, from the same exchange.
Market Sentiment and ETF Inflows
The recent market crash affected Ethereum's fear and greed index, which dropped to 17 percent, indicating extreme fear. However, US-based spot Ether ETFs like VanEck’s ETHV and Fidelity’s FETH saw a net cash inflow of approximately $1.64 million on Monday.