Justin Sun, the founder of the TRON blockchain, has recently attracted attention with potential new transactions, prompting speculation about his investment activities. On-chain analytics platform Lookonchain has shed light on these transactions, which have become a subject of interest within the crypto community due to Sun's prominence and the influence of whale activity on cryptocurrency prices.

Of particular interest are recent Ethereum transactions involving Sun, observed by Lookonchain. Notably, significant amounts of Ethereum (7,402 ETH, approximately $23.3 million) and USDT (95.67 million) were withdrawn from the crypto exchange Binance and transferred to a new wallet. This pattern mirrors similar transactions by two other wallets, which have been tentatively linked to Sun.

The accumulation of Ethereum and USDT into these wallets hints at a potential investment strategy by Sun. For instance, one wallet (0x4359) associated with Sun has acquired a substantial amount of Ethereum ($492.23 million worth) since April 8.

This accumulation activity coincides with a broader trend of bullish sentiment returning to Ethereum, particularly following significant withdrawals of ETH from centralized exchanges in recent days. Over 260,000 ETH (valued at $781 million) has been withdrawn from exchanges in the past week, following the approval of Spot Ethereum ETFs in Hong Kong.

Despite Ethereum's price consolidating within a range of $2,900 to $3,700 over the past month, positive responses to the accumulation trend have been observed. Ethereum is currently trading at $3,308, showing a nearly 5% increase in the past 24 hours. This upward momentum suggests a potential continuation of price rebound in the coming week, potentially leading to positive gains for Ethereum in the monthly timeframe.