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An address suspected of Justin Sun recently acquired $160.7 million in ETH, potentially indicating a bullish drive for Ethereum.&nbsp; 
<a href="https://twitter.com/lookonchain/status/1759610650081603890" target="_blank" rel="noopener">Lookonchain</a> said the purchase was made through leading cryptocurrency exchange Binance and various decentralized exchanges (DEXs). The wallet, identified with the partial address “TWGHNc,” has been scrutinized for its large-scale transactions, including a withdrawal of 500 million USDT in Tether from HTX, formally Huobi, on Sunday.&nbsp; 
The same wallet also deposited 50 million USDT into Binance today, with analysts and observers emphasizing that <a href="https://crypto.news/justin-sun-huobi-exchange-htx-replace-native-token/">Sun</a> would have the potential capability to withdraw such a large amount from HTX.&nbsp; 
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 1/ In the past 32 hours, someone bought a total of 54,721 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> ($154.4M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a> and <a href="https://twitter.com/hashtag/DEX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#DEX</a>. Who is this guy? Could be <a href="https://twitter.com/hashtag/JustinSun?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#JustinSun</a>? Let’s dig deeper.👇 <a href="https://t.co/6yh4GRZnws" target="_blank">pic.twitter.com/6yh4GRZnws</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1759610650081603890?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 19, 2024</a>
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Further comparisons of transaction patterns have linked the “TWGHNc” wallet to another address, “<a href="https://etherscan.io/address/0x7a95f1554ea2e36ed297b70e70c8b45a33b53095" target="_blank" rel="noopener">0x7a95</a>,” noting parallel activities between the two. On Feb. 7, TWGHNc deposited $5.4 million to HTX, followed by a similar amount in ETH withdrawal by 0x7a95 from HTX the next day.&nbsp; 
Additionally, a 50 million USDT deposit to Binance on Feb. 1 by TWGHNc correlated with a subsequent withdrawal of 9,959 ETH from Binance by 0x7a95 on Feb. 12. The high-value transactions from HTX suggest that the wallet could potentially belong to Sun, although it’s speculative. If Sun were accurately identified behind these transactions, it would signal a bullish interest in <a href="https://crypto.news/price/ethereum/">Ethereum</a> from the TRON founder.&nbsp; 
 Read more: <a href="https://crypto.news/bitcoin-record-inflows-digital-asset-investment/"> Bitcoin drives record $2.4b weekly digital asset investment inflows </a>

Justin Sun suspected to have purchased $160m in Ethereum

crypto.news

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