Time to Accumulate ETH Instead of Selling: Tron Founder Justin Sun

Justin Sun, the creator of the Tron blockchain, and now the owner of two exchanges – Huobi and Poloniex – has shared a bullish outlook for the near future of the cryptocurrency market, specially stressing the second largest cryptocurrency Ethereum.

His tweet came after a bullish statement made by Cameron Winklevoss about the future of the crypto industry and “haemorrhaging $ billions on legal fees fighting SEC.”

“Excellent time to continue accumulating”: Justin Sun

Crypto billionaire Justin Sun commented on the massive political shift that took place in the US government this week, sharing his positive outlook on the crypto industry in this regard. Sun stated that due to the much-expected “improvement in macro crypto policies”, he and his team feel “very optimistic” about the market outlook, including Ethereum.

Sun suggested that rather than continuing to sell, it sounds like a much better idea and “an excellent time to continue accumulating and building.”

With the improvement in macro crypto policies, we are very optimistic about the market outlook(including ETH). Instead of selling, we believe it’s an excellent time to continue accumulating and building.

— H.E. Justin Sun🌞(hiring) (@justinsuntron) November 7, 2024

Dormant Ethereum whale sells ETH

As reported by the @spotonchain on-chain data provider, a dormant Ethereum whale has become active after 8.75 years of sleeping. This wallets hold an impressive 12,001 ETH worth $34.1 million.

The data source said that the whale has started selling his ETH bag. This whale bought his 12,001 ETH on ShapeShift in 2016 for just $103,000 at $8.58 per coin. If he sells all of it now, the source says, he could rake in a profit of $34 million (330x return).

Gemini owner’s ultra-bullish anti-SEC statement

One of the two founders and owners of the Gemini crypto exchange, Cameron Winklevoss, has also shared his positive expectations regarding the new macro-political development in the USA that took place on November 6.

Now, with the change of the US leader, Winklevoss tweeted that he expects the cryptocurrency space to make a lot of accomplishments in the next four years since he believes that the current US SEC chairman Gary Gensler is likely to be replaced with someone with a pro-crypto position.

Imagine how much we are going to accomplish in the next 4 years now that the crypto industry won’t be hemorrhaging $ billions on legal fees fighting the SEC and instead investing this money into building the future of money. Amazing awaits.

— Cameron Winklevoss (@cameron) November 6, 2024

Winklevoss hinted at the currently continuing Ripple-SEC case (and also he was likely referring to the other legal cases initiated against the SEC): “now that the crypto industry won’t be hemorrhaging $ billions on legal fees fighting the SEC and instead investing this money into building the future of money.”

“Amazing awaits,” he stated with a hope.

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