Justin Sun started in 2024 and accumulated nearly $40 million in ETH

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The crypto world is abuzz with the latest data from Lookonchain, which shows Justin Sun amassing a large amount of Ethereum and an unknown whale wallet, with his tokens worth over $182 million as of December 26, 2023. As these whales make massive purchases, a cryptocurrency wave is building. , sparking conspiracy theories and speculation among analysts.

whales are accumulating $ETH!

Whale “0x9314” spent $48 million to buy 21,192 $ETH Bought 79,980 from DEX 10 hours ago for $2,265 $ETH($143 million) as of January 1.#Sunyuchen Withdrawal 11,267 $ETH($25.3 million) from #binance 5 hours ago 17,433 $ETH($39.2 million) from #binance From December 26th… pic.twitter.com/HQloK4pm9n

— Lookonchain (@lookonchain) January 5, 2024

A famous player named “Whale”0x9314” made an amazing move, just 10 hours ago he spent $48 million to buy 21,192 ETH for $2,265 through the decentralized exchange. Since the beginning of the new year , the purchase increased the amount by 79,980 ETH, worth $143 million.

Meanwhile, Justin Sun, a well-known figure in the cryptocurrency space, withdrew 11,267 ETH ($25.3 million) from Binance just 5 hours ago. This move is in addition to previous repurchases, which saw Binance repurchase a total of 17,433 ETH ($39.2 million) since December 26. Sustained and concentrated buyback activity by Sun and anonymous whales has analysts speculating on their confidence in Ethereum’s future trajectory.

Despite the growing accumulation, questions remain about the intentions behind these massive purchases. Analysts are divided over whether this accumulation by Sun and the anonymous whale is a simple strategic move or a more complex investment strategy. Therefore, investors should pay close attention to the actions of these influential entities to respond cautiously to potential market changes.

Justin Sun has had his ups and downs in 2023 due to hacks and legal entanglements on his own platform, but his portfolio has seen a remarkable recovery, bringing in a staggering $323 million in profits.

Currently, Sun’s cryptocurrency investment portfolio has a total value of approximately $1.38 billion, covering approximately 31 different currencies.Amid the volatility of 2023, Sun’s rise in portfolio value shows the underlying resilience and agility of experienced players in the cryptocurrency space