- Earlier this month, ETH plunged to a low of $1,400, however Justin Sun has reaffirmed his commitment to holding his ETH despite the market turbulence.
- In fact, Sun revealed plans to strengthen ties with Ethereum developers, responding to growing frustration from the community over the EF’s perceived shortcomings.
In a clear vote of confidence in Ethereum’s long-term prospects, Tron founder Justin Sun has publicly declared that he will not be selling his Ethereum (ETH) holdings despite the recent market downturn. “ETH is currently at a low price, but we have no intention of selling our ETH holdings,” Sun stated, underscoring his belief in the enduring value and future potential of the world’s second-largest cryptocurrency.
According to reports, Sun currently holds around 665,000 ETH, with an estimated value of just under $1 billion at today’s prices. Looking ahead, “Tron will continue to seek opportunities to collaborate with more Ethereum developers and build our industry together,” he said, signaling an openness to collaborate despite the historical rivalry between Tron and Ethereum communities.
Sun’s remarks arrive amid ongoing debates within the Ethereum community about the network’s sluggish price performance. Earlier this month, Bankless co-founder David Hoffman shared community-driven suggestions to improve ETH’s market presence. In a post on X, Hoffman criticized Ethereum’s internal dynamics, pointing to what he described as a leadership culture that alienates users and builders. “ If we want ETH to go up, the EF and broader community need to start attracting users and builders, not pushing them away with a holier-than-thou culture,” he emphasized.
Ethereum Takes a Hit
The second-largest cryptocurrency by market capitalization is now trading at $1585, down a staggering 67.56% from its all-time high of $4,878.26. In the last 30 days alone, ETH has slid 18%, even as Bitcoin has seen a marginal rise of 1.8%.
In response to Sun’s post, David Gross stated that the number of active Ethereum addresses has declined over 11% year-over-year, standing at approximately 450,565 as of mid-April. David further explained,”This volatility, alongside earlier 2025 declines (dropping from over 400k to 333k by late March), clouds the network demand outlook,”.
At the same time, Santiment, a leading blockchain analytics platform, recently reported that Ethereum’s transaction fees are at a five-year low, with the average cost of a transaction currently sitting at just $0.168. “This is the cheapest daily cost of making $ETH transfers since May 2, 2020,” it added, pointing to the reduced network demand.
Adding to the bearish sentiment, whales have dumped 143,000 ETH in the last week alone, adding pressure to an already fragile market. Ethereum’s derivatives markets are also raising alarm, with derivatives trading volume down by 26.80% to $31.27 billion and open interest down by 1.20% to $17.84 billion. In Particular, options action is seeing modest growth with options volume increasing 5.50% to $450.65 million. The divergence in derivatives statistics shows that although spot markets are anxious, there is some hedging for volatility or a rebound.
