Today, wallet 0xdbf, controlled by Justin Sun, withdrew 4,629 ETH worth $16.07 million from Binance. The withdrawal was made at a price of $3,472 per ETH, according to data from SpotOnChain, an AI-driven platform. It helps traders with on-chain insights. This platform is backed by Google for Startups and trusted by prestigious partners.
Over $48M in ETH Withdrawn by Wallet 0xdbf in Three Days
The withdrawal of this wallet continues from previous transactions, and this is the latest one. More specifically, the wallet 0xdbf has been making total withdrawals of 13,967 ETH from Binance over the past three days. The total value of these withdrawals is about $48.8 which shows that the withdrawal price of each ETH is $3494 on average.
Justin Sun’s Massive ETH Withdrawals Raise Crypto Concerns
These exceptional withdrawals have raised eyebrows within the crypto fraternity especially because of the identity of the founder of Tron, Justin Sun. He is often making moves which dictate where the markets are going and investor’s perception of it.
The continuous withdrawals in the past few days can be planned withdrawals but it is unclear why such transactions were executed. Analysts will probably pay attention to further transactions from this wallet in order to judge the effects of these operations on the market and further development of Ethereum.
