$160m worth of Ethereum believed to have been acquired by Justin Sun

A recent transaction involving the suspected address of Justin Sun has resulted in the acquisition of $160.7 million worth of Ethereum (ETH), which could potentially indicate a positive trend for the cryptocurrency.

According to Lookonchain, the purchase was carried out through the popular cryptocurrency exchange Binance, as well as several decentralized exchanges (DEXs). The wallet associated with the partial address “TWGHNc” has attracted attention due to its significant transactions, including a withdrawal of 500 million USDT in Tether from HTX (formerly known as Huobi) on Sunday.

Furthermore, the same wallet deposited 50 million USDT into Binance today, leading analysts and observers to highlight the possibility that Justin Sun could be behind such a substantial withdrawal from HTX.

Moreover, a comparison of transaction patterns has revealed a connection between the “TWGHNc” wallet and another address known as “0x7a95,” with parallel activities observed between the two. On February 7, TWGHNc deposited $5.4 million to HTX, followed by a similar amount of ETH withdrawal by 0x7a95 from HTX the next day.

In addition, a 50 million USDT deposit to Binance on February 1 by TWGHNc coincided with a subsequent withdrawal of 9,959 ETH from Binance by 0x7a95 on February 12. These sizable transactions from HTX suggest that the wallet may potentially belong to Justin Sun, although it is merely speculative at this point.

If it is indeed confirmed that Justin Sun is behind these transactions, it would signify a strong interest in Ethereum from the TRON founder.