Onchain Analyst Discloses Justin Sun’s $1.267 Billion ETH Acquisitions Since December

• Justin Sun’s Ethereum holdings are nearing 700,000 ETH, valued at $2.215 billion, with significant acquisitions made since December 2023.
• Sun’s staking strategy yields 56.7 ETH daily, equating to $180,000, based on a 3.2% annualized rate for Ethereum’s Proof-of-Stake system.
• Retail traders monitor Sun’s average purchase price of $3,006 per ETH, viewing it as a potential support level for market predictions.

Onchain analyst EmberCN has disclosed details about Justin Sun’s Ethereum (ETH) holdings, highlighting that the Tron founder’s ETH portfolio is nearing 700,000 ETH. In a recent post on X, EmberCN outlined the specifics of Sun’s ETH holdings, including his staking and re-staking allocations, as well as their potential daily earnings.

According to the onchain analyst, Sun has acquired 421,800 ETH, valued at $1.267 billion, since December 26, 2023. EmberCN pointed out that the Tron founder made these purchases using five distinct addresses, with an average buying price of $3,006 per ETH. 

When combining Sun’s recent ETH acquisitions with his existing holdings, the renowned crypto investor now holds approximately 698,700 ETH, worth $2.215 billion at the time of EmberCN’s analysis. The analyst further detailed that Sun has allocated 646,900 ETH of his holdings to staking and re-staking platforms.

Explaining Sun’s staking and re-staking strategy, EmberCN noted that, based on the 3.2% annualized rate for Ethereum’s Proof-of-Stake (PoS) system, Sun’s daily earnings from the staked ETH amount to 56.7 ETH, which is equivalent to $180,000.

Ethereum has experienced notable price volatility over the past seven months, during which Sun made the bulk of his ETH purchases. The flagship altcoin reached a yearly high of $4,093 before adjusting to trade at $3,222.17 at the time of writing, according to data from TradingView.

Sun’s substantial ETH volume, as revealed by EmberCN, qualifies him as an ETH whale, making him one of the key figures controlling significant amounts of Ethereum. Retail traders often pay close attention to the activities of such whales to gauge market trends and make predictions. 

Some traders might consider Sun’s average purchase price of $3,006 per ETH as a potential support level, anticipating that the renowned investor would take measures to maintain profitability by keeping the price above that threshold.