One of the well-known names in the cryptocurrency world Justin Sunrecently transferred a total of 537 million EIGEN coins to the HTX exchange in six different wallet addresses under its control. The total value of these transactions is approximately $22.19 million. It is predicted that Sun will make a significant profit if these coins are sold around the altcoin’s current market price of $4.
What Does Justin Sun’s EIGEN Move Mean?
Data analysis by ai_9684xtpa on social media platform EigenLayer enabled the transactions to occur. While a coin transfer of this scale attracted the attention of investors, it attracted the attention of the cryptocurrency world as it could create a potential selling pressure in the cryptocurrency market.
Sun’s investment in HTX stock market with such a large amount EIGEN coin The fact that he transferred these coins led to speculation that he was planning to sell them. However, it is unclear whether the coins transferred so far have been sold on the exchange or used for another transaction.
Continuing Uncertainty
Cryptocurrency exchange of large amounts of EIGEN coins from wallet addresses controlled by Sun HTXThe fact that it was transferred to was interpreted as a preparation for a big sale. On the other hand, experts and market observers still cannot figure out the exact purpose of this transfer. Although there is no definitive information that the coins transferred to the stock exchange will be traded on the stock exchange, this development was enough to worry investors.
Sun’s history in the cryptocurrency world causes wallet addresses to be carefully monitored and such moves to be on the agenda. The transfer of such a large amount of coins to the stock exchange usually causes fluctuations in the market.
Sun’s cryptocurrency Despite its sensational transfers in the world, with current data, EigenLayer’s main network asset EIGEN coin is traded at $ 4.01, with an increase of 7.75 percent in the last 24 hours.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
