Justin Sun, Poloniex cryptocurrency to the stock market 15 million dollars worth Ethereum carried out a great transfer once again. The total number of large transactions made by Sun-affiliated wallets exceeded 10 this month.
Justin Sun Transfers $15 Million In ETH On Poloniex
According to LookOnChain, $15.5 million was moved directly to Poloniex from former Tron leader Sun. This organization has more than $347 million in cash. It is not possible to determine whether these funds were sold after they were moved to Poloniex.
Justin Sun transferred 10,000 ETH ($ 15.5 million) to Poloniex 2 hours ago. Justin Sun still holds 223,780 ETH ($347 million) at address “0x176f”.
— Lookonchain (@lookonchain) January 25, 2023
Given the overall liquidity and volume in Ethereum, Sun’s $15 million to $50 million transactions will not have a notable impact on the price of the second-largest cryptocurrency.
Ethereum isn’t the only asset actively moved by Sun: smaller altcoins like DYDX were also on the radar of blockchain researchers following Sun’s activities in the market.
Historically, every time Sun’s own wallet or an associated wallet makes a transaction, the token’s price immediately retreats.
However, Sun doesn’t have many ERC20 tokens in its main wallet because the total value of these assets is only $15,000, and most of these currencies are not even liquid enough to be sold.
However, there’s no way of knowing for sure exactly how many wallets Sun has, as it obviously redistributes most of its funds among multiple wallets for both security and privacy measures.
*Not investment advice.
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