The post Justin Sun Liquidation Rumors Debunked Amid The Sudden Fall Of ETH Price appeared on BitcoinEthereumNews.com.

Key Points: Justin Sun denies rumors of liquidation and emphasizes minimal use of leveraged trading. Despite rumors, Sun’s losses were due to Ether’s price drop, not liquidation, and he announced a $1 billion fund to combat FUD. Justin Sun liquidation rumors have been denied, as he rarely uses leverage. Data showed he lost $280M due to ETH’s drop, not liquidation. Justin Sun Liquidation Rumors Debunked Amid The Sudden Fall Of ETH Price Justin Sun is out to debunk recent rumors swirling around the liquidation of his positions, saying they are not true. Justin Sun Liquidation Rumors Addressed According to the founder of TRON and Huobi HTX Global Advisory Committee member, he seldom uses leveraged trading strategies, which offer minimal benefits to the industry from his perspective. 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. Instead, we prefer to engage in activities that provide greater support to the industry and… — H.E. Justin Sun 孙宇晨 (@justinsuntron) August 5, 2024 Instead, we prefer to engage in activities that provide greater support to the industry and entrepreneurs, such as staking, running nodes, working on projects, and helping project teams provide liquidity, said Justin Sun. According to data from Spot On Chain, Justin Sun just lost nearly $280 million as Ether’s price sank by 20% instead of being liquidated, as rumors said. Reports indicate that since February 8, 2024, using three wallets, Sun has amassed 377,590 ETH at an estimated cost of $1.15 billion, while ETH is trading far below his average purchase price of $3,051. Source: Spot On Chain In a recent post, Justin Sun outlined some of the developments the crypto industry has gone through in the past year, noting that ups and…

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Filed under: News - @ August 5, 2024 4:26 pm