A crypto wallet associated with Justin Sun, the co-founder of Tron, a smart contract platform, has moved 20,000 Ethereum (ETH) worth roughly $32.4 million from Lido Finance, a liquidity staking platform. Funds were transferred to Binance, the world’s largest crypto exchange, trading volume and client count.
The transaction, executed in a single batch, was captured by The Data Nerd, an analysis platform, and shared on X on October 5. As it is, Ethereum (ETH) is under pressure, looking at the performance in the daily chart.
Ethereum Drops 4%, Are Bears Flowing Back?
Trackers show that the coin is down roughly 4% in three days, confirming sellers of October 2. Notably, the daily chart has a double bar formation with the bear candlestick of October 2, completely reversing buyers of October 1.
This arrangement suggests that bears could be in control, especially considering the draw-down of the past few trading days and the level of participation on October 2 when the coin slipped.
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