Tron founder Justin Sun has added 20,633 Ethereum (ETH) worth about $33 million to his wallet in the past 4 days. Justin Sun supports the Ethereum PoW hard fork plan for Ethereum PoW (ETHPoW). Crypto exchange lists ETHW and ETHS on Poloniex. In fact, he promised to donate forked ETH tokens to support the community and the PoW ecosystem.
TRON inventor buys Ethereum before Merge
According to Etherscan data, 20,633 Ethereum (ETH) was added in two transactions this week to the address marked “Justin Sun” by Nansen. Justin Sun added 5,633.05 ETH, worth about $9 million, from Poloniex on Monday. Today, on September 2, it added 14,999.87 ETH from Poloniex worth about $24 million. The wallet address currently holds 268,280.58 ETH, worth $425 million. The wallet in ETH has a net worth of 277,685.98, which is over $440 million.
Tron founder Justin Sun is a primary supporter of prominent Chinese miner Chandler Guo’s plan to remain in Ethereum proof-of-work (PoW). Once Ethereum moves to proof-of-stake (PoS), miners will become obsolete. Therefore, the EthereumPoW community was established to perform a PoW fork of Ethereum. Thus, miners can continue mining Ethereum PoW Blockchain ETH.
However, Ethereum co-founder Vitalik Buterin and other crypto influencers believe that miners should switch to Ethereum Classic. The Ethereum Classic community and the ETC Cooperative organization think that the Ethereum hard fork will not work. He urges ETHPoW to drop the PoW hard fork plan. Meanwhile, Chandler Guo and EthereumPoW are confident that they will successfully complete all preparations for the Ethereum hard fork before Merging.
Ethereum price bounces
Justin Sun and crypto exchange Poloniex support the Ethereum hard fork. Announced plans to list ETHW and ETHS tokens ahead of Merge. Other cryptocurrency exchanges are open to listing the ETHW token if the challenge is successful. ETH price climbed above $2,000 in anticipation of Merge. However, prices were corrected when whales and investors started selling ETH after the Ethereum Foundation corrected misunderstandings about the deflationary price after the Merge.
The price is currently trading at $1,586, up almost 3% in one day. Meanwhile, Ethereum Classic (ETC) price is on the rise, as miners are likely to switch to Ethereum Classic after Merge, as we reported on cryptokoin.com. The price is trading at $32.63, up nearly 3% in the last 24 hours.
