Tron founder Justin Sun has denied rumors about selling his Ethereum assets. These rumors had surfaced following significant price fluctuations in the market.
Sun refutes liquidation claims
Sun stated that the allegations of Ethereum sales are false. These rumors arose after significant transfers between wallets associated with Sun and his projects were noticed. This led to concerns that such sales could negatively impact the market. 'The rumors circulating online about us liquidating ETH are false. This is simply a transfer of ETH between our different wallets. We remain long-term bullish on the Ethereum ecosystem,' Sun tweeted.
Analysts predict bullish turn for Ethereum
Analysts believe the current price fluctuations could indicate a rally ahead. The ETH/BTC pair is considered a positive signal for an upcoming market rebound. However, Ethereum needs to break through the $3,540 resistance level to retest the $4,000 price mark.
Impact of Sun's statement on the market
Sun's statements have helped ease investor concerns and stabilize the market. Experts note the recent price volatility was driven by uncertainty. Sun’s optimism might support further Ethereum strengthening.
Justin Sun's statement helped clarify the situation and ease investors' minds, potentially leading to a stabilization and recovery of the Ethereum market in the near future.
