Justin Sun Doubles Down on His Conviction in Ethereum, Declaring He Has No Intention of Selling

Tron founder Justin Sun is choosing conviction over capitulation, declaring that he has no intention of selling his Ethereum holdings despite bearish sentiment.

Tron founder Justin Sun is known for his bullish spirit and steadfastness, especially when it comes to his cryptocurrency holdings. Despite bearish sentiment and a 20% crash in the last 30 days, Sun has no intention of selling his Ethereum (ETH) coins.

“ETH is now at a low price, but we have no intention of selling our ETH. Tron will continue to seek opportunities to collaborate with more Ethereum developers and build our industry together.”

Sunlight is a good disinfectant. 🔥

ETH is now at a low price, but we have no intention of selling our ETH.

Tron will continue to seek opportunities to collaborate with more Ethereum developers and build our industry together.

Recently, there has been an increasing chatter online about the possibility of Tron (TRX) and Ethereum (ETH) merging. However, those rumors appear to be false.

Those rumors were sparked by a recent statement from Tron founder Justin Sun, who stated that Tron will continue seeking opportunities to collaborate with more Ethereum developers and build the industry together.

“ETH is now at a low price, but we have no intention of selling our ETH. Tron will continue to seek opportunities to collaborate with more Ethereum developers and build our industry together.”

Sun’s public stance not only emphasizes long-term belief in Ethereum but also signals potential upcoming collaboration between Tron and Ethereum developers, aiming to jointly push for broader blockchain growth.

Reports suggest Sun personally holds around 665,000 ETH, which is currently valued just under $1 billion, a steep drop from its estimated peak value of $2.5 billion.

Despite the massive markdown, Sun remains steadfast in his decision to HODL, pushing back against growing market fears and a trend of whales offloading ETH in massive numbers.

Ethereum Faces Challenges

While Sun doubles down, the Ethereum network itself is facing a set of challenges. Daily active address metrics remain volatile, with data from YCharts showing a year-over-year decline of over 11%, to roughly 450,565 active addresses by mid-April.

This downturn is part of a broader trend in crypto, with overall blockchain activity also presenting a pessimistic outlook.

However, another report noted that on April 10, the number of active addresses on the Ethereum blockchain had surged to over 1 million, the highest level in 2024.

This spike was attributed to a significant transfer of 100,000 ETH, valued at around $150 million at the time, from one "huge" wallet to another.

But the broader picture suggests a smaller number in consistent user interaction on a broader time frame.

Another key indicator of the current Ethereum slowdown is the plunge in gas fees, now at their lowest since 2020.

According to Santiment, average transaction fees on the Ethereum blockchain have dropped to just $0.168.

This is the cheapest daily cost of making ETH transfers since May 2, 2020, as traders are used to paying at least $0.20 or more throughout 2023.

ETH price analysis

The daily chart below shows a downtrend that began in mid-December 2024 and has continued into April 2025. Also, a potential descending wedge pattern has been forming since around mid-February 2025.

This pattern, which is characterized by converging lower highs and lower lows, is usually considered an indication that the existing trend will continue. In this case, the more likely future would be ETH breaking down below the lower trendline of the wedge.

Technically, if a breakdown occurs around the current price level of $1575, the potential target could be in the range of $975 ($157-$600).

On the other hand, a bullish case would see ETH breakout above the upper trendline of the descending wedge with strong buying volume. A potential initial target could be the resistance level around the previous swing high near $2200-$2400.

Relative Strength Index (RSI) is currently at 36.31 suggesting that bears are in control with the gradient of the line suggesting continued sideways movement until volume surges.

The Balance of Power indicator, which aims to measure the strength of buying and selling pressure, is currently at -0.49. The negative value indicates that sellers have been in control of the price action.