Justin Sun Sells $140M in Ethereum Triggering Bearish Run, but This Altcoin Resists

As the broader crypto market grapples with a notable sell-off, Ethereum (ETH), the second-largest crypto by market cap, has taken a significant downturn. Once reaching a record peak of $4,878 in 2021, Ethereum is now facing a bearish trend with the $3,000 level in jeopardy.

Cryptocurrency prices have been under pressure recently, with a 9% drop in Ethereum over the last fourteen days. This decline is also being influenced by the actions of Justin Sun, the founder of the TRON blockchain, who has been redeeming large amounts of ETH from Lido Finance and Etherfi.

As per a recent report by Spot On Chain, over just seven days, Sun has redeemed 39,999 ETH, valued at approximately $143 million. These funds were then deposited into the crypto exchange HTX.

Since November 10, when Ethereum’s price began to rise, Sun has deposited a total of 108,919 ETH, at an average price of $3,674. This amounts to around $400 million, with the deposits often being made at local peaks.

Currently, Sun still has 42,904 ETH, valued at about $139 million, which is still undergoing the unstaking process from Lido.

According to the platform, this may soon be deposited into HTX, posing additional risks for Ethereum’s price stability if ongoing sell-offs and profit-taking by investors continue.

With Ethereum facing challenges to uphold its value, currently at approximately $3,398—declining more than 30% from its peak—interest is turning to the rising RCO Finance (RCOF), which offers prospects for expansion amid the uncertainty.

Served as a comprehensive fintech solution, RCO Finance is committed to making traditional and decentralized financial services accessible to everyone. Utilizing the capabilities of artificial intelligence (AI), the platform is meticulously crafted to assist users in maneuvering through the complex terrain of the present market.

Currently in its fourth presale stage, the RCOF token is valued at $0.077, garnering notable interest by rapidly accumulating $9.58 million, with nearly 43% of tokens already allocated to the public.

A key aspect of RCO Finance is its AI-powered Robo Advisor, which acts as an automated investment manager. By thoroughly examining vast market data, the Robo Advisor develops customized investment approaches that correspond with personal financial goals and risk tolerance.

This feature serves both beginners and experienced traders, making the intricacies of cryptocurrency investing easier to understand, and boosting the possibilities to maximize returns in challenging periods.

In addition to its AI features, RCO Finance offers support for over 120,000 digital assets spanning 12,500 asset classes, such as stocks, tangible assets, and exchange-traded funds (ETFs).

Traditionally restricted to institutional investors, these highly liquid instruments are now available to regular investors via RCO Finance, which breaks these assets into smaller units, making portfolio diversification easier and broadening financial opportunities.

The platform also prioritizes user privacy with its know-your-customer KYC-free platform, allowing for anonymous financial transactions.

Additionally, its governance structure enhances community involvement by enabling token holders to propose and vote on important platform changes, fostering a sense of ownership among users, boosting involvement within the ecosystem.

The platform’s strong tokenomics framework aims to promote sustainability and expansion, featuring mechanisms like liquidity pools and yield farming that reward participants for their active involvement.