Sun Moves $245M in ETH: Is Ether Headed For a 2025 Pump?

• Justin Sun transfers 70,182 ETH worth $244.9M to HTX, adding to $645M moved.
• ETH ETFs see renewed interest, with net inflows exceeding $2B despite outflows.
• Regulatory clarity in 2025 could boost ETH growth, focusing on staking and asset classification.

Justin Sun has transferred 70,182 ETH worth $244.9 million to HTX on Christmas Eve, continuing his pattern of large Ethereum movements. According to Spot on Chain data, this transfer included 42,905 ETH unstaked from Lido Finance and 27,277 ETH from Etherfi. This marks another major deposit to the cryptocurrency exchange.

This latest movement adds to Sun’s substantial Ethereum transfers since November 10, during which he has deposited approximately 179,101 ETH (valued at $645 million) to HTX at an average price of $3,601. These transfers have often coincided with local price peaks, suggesting strategic timing of his movements. Sun’s cryptocurrency holdings remain substantial, with 106,905 stETH ($372.4 million) and 56,277 eETH ($195.8 million) still in his possession.

Of this remaining amount, 25,000 ETH ($87 million) is currently in the process of being unstaked from Etherfi. Looking ahead to 2025, Kaiko’s latest research suggests Ethereum could emerge as a major beneficiary of the changing political landscape in Washington, DC. The report highlights major shifts in ETH ETF dynamics during late 2024, particularly following the U.S. election in November.

While ETH ETFs initially saw modest uptake after their July launch, with Grayscale’s 2% fee structure impacting market sentiment, the landscape changed dramatically in the final months of 2024. Net flows turned positive in late November and continued through December, pushing total net inflows since launch beyond $2 billion. This is despite over $3 billion in outflows from Grayscale’s ETHE.

Source: Kaiko

The surge in institutional interest manifested through increased activity in ETH futures on the CME. This mirrored patterns previously observed in Bitcoin futures during May and June. This heightened futures activity, combined with the changing regulatory outlook, has contributed to improved ETF performance.

Kaiko’s analysis suggests that regulatory clarity around two key aspects could drive Ethereum’s growth in 2025. The first is the classification of ETH as either a commodity or security and clearer guidelines around staking activities. These regulatory developments, expected under the new administration, could provide the foundation for significant price appreciation in the coming year.

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