Justin Sun, $15 million Ethereum moved their tokens to Poloniex, moving once. The total number of large transactions processed by Sun-affiliated wallets exceeded 10 this month.
According to LookOnChain Justin Sun‘s wallet moved $15.5 million directly to the Poloniex exchange. More than $347 million remains in this organization. Unfortunately, it is not possible to determine whether these funds were sold after the move to Poloniex.
Justin Sun transferred 10,000 $ETH($15.5M) to #Poloniex 2 hrs ago.
And Justin Sun still holds 223,780 $ETH($347M) in address “0x176f”.https://t.co/VTN13dGJ1q pic.twitter.com/Rj2sMpksXo
NEWS CONTINUES BELOW— Lookonchain (@lookonchain) January 25, 2023
However, Sun’s business is based on making profits and dispersing the pressure by selling piecemeal as they rise, similar to the strategy most investors use when hedging their portfolios.
Given the overall liquidity and volume on Ethereum, Justin Sun’s $15 million to $50 million trades shouldn’t have much of an impact.
Indeed, Sun not only moved Ethereum. sun, DYDX It also moved smaller altcoins such as According to historical data, Sun’s small-scale altcoin movements have a negative response in price.
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However, Sun doesn’t have many ERC20 tokens in its main wallet. The total value of these assets is only $15,000, and most of these currencies are not even liquid enough to sell.
However, it is not known exactly how many wallets Sun has. It is certain that he is openly redistributing most of his funds among multiple wallets for both security and privacy measures.