Justin Sun denies rumors of triggering massive Ethereum price collapse
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
The price of the second largest cryptocurrency by market capitalization value has demonstrated a tremendous collapse, going below the $2,300 level.Crypto billionaire Justin Sun responded to the rumors about his Ethereum positions being liquidated, refuting them. Sun stated that he and his team rarely take to leveraged trading strategies since they are certain that “such trades do not significantly benefit the industry.
The rumors about our positions being liquidated are false. We rarely engage in leveraged trading strategies because we believe such trades do not significantly benefit the industry.
Data shared by the @lookonchain analytics account on X shows that whales have been making astonishing liquidations, selling their ETH holdings. In particular, the tweet mentions that 25 addresses have, last week, both Bitcoin and Ethereum saw enormous amounts of withdrawals. Institutional investors cumulatively moved $400 million from Bitcoin and $146.3 million from Ethereum.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Justin Sun Buys $5 Million in Ethereum (ETH), Price Rally Coming?TRON founder Justin Sun appears to be bullish on Ethereum price
Read more »
TRON Founder Justin Sun Breaks Silence on $69,000 Bitcoin LongTRON founder Justin Sun reveals truth about his alleged $69,000 Bitcoin long position
Read more »
TRON Founder Justin Sun Urges Elon Musk to Do This for BitcoinTRON founder Justin Sun challenges Elon Musk to bring back Bitcoin emoji to X
Read more »
2025 Audi Q8 E-Tron, SQ8 E-Tron Family Gets Minor ChangesAudi announced 2025 model year pricing and minor changes to standard equipment and package contents of the Q8 e-tron model family.
Read more »
Tron (TRX) Surpasses Ethereum (ETH) 230.6% By Key Metric: DetailsRecently published data shows that Tron has greatly surpassed Ethereum, from which it once sprung
Read more »
Justin Sun teases gasless stablecoin coming to Tron by end of year with Ethereum, EVM chains to followSun declined to explain the technical details, but noted that the gas fees will somehow be covered by the stablecoins themselves.
Read more »