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Highlights
- Justin Sun has refuted claims of selling off his Ethereum holdings.
- The Tron founder revealed plans to deepen ties with the Ethereum developers.
- Ethereum price continues to trade well under the $2,000 mark to the chagrin of investors.
Tron founder Justin Sun is showing off diamond hands as the Ethereum price tries to stage a resurgence. Justin Sun has disclosed his intention not to sell off his ETH holdings while exploring new collaboration opportunities with Ethereum developers.
Tron Founder Is Not Selling ETH Holdings
Justin Sun has confirmed his resolve not to sell off any ETH despite falling prices for the largest altcoin. According to a post on X, the Tron founder disclosed plans to HODL the asset while unveiling plans to trigger a growth spurt.
“ETH is currently at a low price, but we have no intention of selling our ETH holdings,” said Justin Sun.
The Tron Foundation is yet to publicly reveal its ETH holdings, but speculation is rife that the organization holds a sizable amount. However, the Tron founder reportedly holds around 665,000 ETH valued at just under $1 billion at current prices.
Since Ethereum began its decline, the value of Justin Sun’s ETH holdings have plummeted from its highs of around $2.5 billion. Despite the price drop, the Tron founder is remaining firm in his resolve not to offload his ETH bags.
However, Ethereum whales are creating sell pressure for ETH by offloading their coins at a loss, sparking fears of a dip below $1,500.
Collaborating With Developers To Improve Ethereum Price
Alongside his declaration to HODL ETH, Sun revealed plans to double down on the Ethereum network. Going forward, Sun notes that Tron will explore increased collaboration with Ethereum via initiatives with developers and other critical stakeholders.
“Tron will continue to seek opportunities to collaborate with more Ethereum developers and build our industry together,” adds Justin Sun.
His comments come on the heels of a raft of community suggestions designed to improve Ethereum price performance. While the Tron founder did not give further details, the planned collaboration is expected to trigger a flurry of ecosystem activity.
This is not the first time Justin Sun is backing Ethereum with the Tron founder previously unveiling strategy to push ETH price to $10K. Sun’s plans revolved around stopping the Ethereum Foundation from making ETH sales for three years and taxing L2 protocols.
At press time, Ethereum price currently trades at $1,581 after falling by 46% over the last 12 months. There is chatter that Ethereum price has bottomed and bullish US unemployment data can trigger a rally to $2,000. Charts are indicating signals for an uptrend with ETH trading above a resistance trend line, sparking belief for push toward $4,800.
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