An unexpected hack by Justin Sun’s Tron DAO process was detected, which caused some speculation among the community.
The massive transaction was made a few hours ago: 180 million USDC was moved from a Tron DAO wallet to Binance. Considering the current timing, we may see an impact on the market regarding this transaction in the near future. Justin Sun or Tron DAO did not share any information regarding the USDC transfer, but users are already starting to speculate about a potential acquisition activity.
— Whale Alert (@whale_alert) January 22, 2023NEWS CONTINUES BELOW
According to on-chain data, whales are actively buying crypto assets during this short-term market rally. The latest transaction from Tron DAO to Binance could be part of the enormous purchasing power we witnessed in the digital asset market in January. During the month, Justin Sun himself and Tron DAO or wallets affiliated with Tron made large transfers to different exchanges, including Binance. However, many of these transactions depended on internal fund redistribution rather than actual buying or selling transactions.
Unfortunately, there is no clear way to determine where these funds actually go. However, given the current liquidity on Binance and the depth of the market, even such a large amount will likely not have an impact on the market.
Koinfinans.com As we reported, Tron itself did not react to the big transaction on the stock market, the price performance of the asset has been staying at the same level for the past few days. Based on its previous performance, Tron mostly follows the general trend in the market and copies the movement of Bitcoin and other digital assets that have been rising for the past few weeks.
You can follow the current price action here.