Ethereum

Tron Founder Justin Sun Adds 20,633 Ethereum (ETH) Ahead Of Merge, Here’s Why

Tron founder Justin Sun has added 20,633 Ethereum (ETH) worth nearly $33 million to his wallet in the last 4 days. Justin Sun is supporting Ethereum PoW hard fork plan of EthereumPoW (ETHPoW) and listing ETHW and ETHS on his crypto exchange Poloniex. In fact, he had promised to donate forked ETH tokens to support the community and the PoW ecosystem.

Justin Sun Transfer Ethereum (ETH) Tokens Before the Merge

According to Etherscan data, the address marked by Nansen as “Justin Sun” has added 20,633 Ethereum (ETH) in two transactions in this week. Justin Sun added 5,633.05 ETH worth nearly $9 million from Poloniex on Monday and added 14,999.87 ETH worth nearly $24 million from Poloniex today, September 2.

The wallet address now has 268,280.58 ETH worth $425 million. The net worth of the wallet in ETH is 277,685.98, which is over $440 million.

Tron founder Justin Sun is a primary supporter of Chinese prominent miner Chandler Guo’s Ethereum proof-of-work (PoW) plan. After Ethereum switches to proof-of-stake (PoS), miners will become obsolete. Therefore, the EthereumPoW community has been established to perform a PoW fork of Ethereum. So that miners can continue mining ETH on the Ethereum PoW blockchain.

However, Ethereum co-founder Vitalik Buterin and other crypto influencers believe miners should switch to Ethereum Classic. Ethereum Classic community and ETC Cooperative organization think Ethereum hard fork will not work and urges ETHPoW to drop the PoW hard fork plan.

Meanwhile, Chandler Guo and EthereumPoW are confident about successfully completing all preparations for the Ethereum hard fork before the Merge.

Justin Sun and his crypto exchange Poloniex support the Ethereum hard fork and announced plans to list ETHW and ETHS tokens before the Merge. Other crypto exchanges are open to listing the ETHW token if the hard for is successful.

Ethereum (ETH) and Ethereum Classic (ETC) Prices Rally

ETH price had rallied to over $2000 in anticipation of the Merge. However, the prices corrected as whales and investors started selling ETH after Ethereum Foundation cleared misconceptions about the Merge and deflationary price after the Merge. The price is currently trading at $1,586, up almost 3% in a day.

Meanwhile, Ethereum Classic (ETC) price has been rallying higher as miners are likely to switch to Ethereum Classic after the Merge. The price is trading at $32.63, up nearly 3% in the last 24 hours.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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