Lookonchain revealed insights into potential new transactions by Justin Sun, the founder of the TRON blockchain, sparking interest in the crypto community.
Notably, Sun's recent activity involves substantial withdrawals of Ethereum (CRYPTO:ETH) and USDT (CRYPTO:USDT) from the crypto exchange Binance, totaling 7,402 ETH worth $23.3 million and 95.67 million USDT.
These transactions, resembling previous ones linked to Sun, suggest that the crypto executive may be accumulating assets into a new wallet, although the identity of the wallet remains unknown.
The timing of Sun's accumulation coincides with a return of bullish sentiment into Ethereum, indicated by increased withdrawals of ETH from exchanges and positive price movements, with Ethereum trading at $3,308, up nearly 5% in the past 24 hours.