Tron founder Justin Sun has 700,000 ETH in his portfolio

Onchain analyst EmberCN published curious information about Justin Sun's balance in the ETH cryptocurrency, noting that his holdings of the Tron founder are approaching 700,000 ETH. In addition to direct purchases, he receives new coins through steaking.

According to the online analyst, since December 26, 2023, Sun has purchased 421,800 ETH, which is equivalent to $1.267 billion. The average price of the altcoin was $3006, with payments going through five different addresses.

In terms of staking, EmberCN wrote that given an annualized PoS rate of 3.2% ETH, San's daily interest on blocked ethers is 56.7 ETH, equivalent to $180,000.

San's accumulation of ETH qualifies it as the number one cryptokit, undoubtedly controlling significant volumes of the number one altcoin.

Retail traders often use information about cryptokit activity to evaluate and predict markets. Specifically, they can take San's average purchase price of $3006 per ETH as a support level, as a reputable investor is likely to do everything possible to keep the price above this level to maintain profits.