Justin Sun’s Ethereum Moves: $90 Million Loss Despite Major Acquisitions in 2023
The post Justin Sun’s Ethereum Moves: $90 Million Loss Despite Major Acquisitions in 2023 appeared on BitcoinEthereumNews.com.
According to recent data from Scopescan, as reported by COINOTAG, Justin Sun has engaged in significant trading activity involving Ethereum in 2023. Specifically, he acquired an impressive total of 186,110 ETH, valued at approximately $590.24 million, primarily through platforms like Binance and 1inch. Interestingly, while he sold only 10,000 ETH, his average purchase price stands at $3,100 per ETH. This strategic accumulation has resulted in an estimated unrealized loss of around $88 million based on current market valuation. Moreover, Sun has deposited 30,000 ETH with Kelp, originally worth $115 million, now showing a significant market setback to about $79 million. He further utilized a total of 32,000 stETH to acquire PT-pufETH on Pendle, which when converted, resulted in a loss of $3.48 million. Conversely, through various airdrops, he gained 97,000 PUFFER and 297,240 EIGEN, yielding a profit of approximately $1.268 million. Overall, the current analysis estimates that Sun’s activities have culminated in a floating loss near $90.2 million this year. Source: https://en.coinotag.com/breakingnews/justin-suns-ethereum-moves-90-million-loss-despite-major-acquisitions-in-2023/
Filed under: News - @ October 30, 2024 2:19 am