A new move came from Justin Sun, who attracted attention with his effective moves in the movements in the crypto money markets.
$ 50 million was transferred from a wallet known to belong to Justin Sun to the Binance exchange.
While it is not known for now what Sun will use the 50 million dollars for, speculations have started to be made.
The account named Lookonchain reminded that Sun last entered a large amount of stablecoins on the Binance exchange 7 days ago, and Ethereum rose from $ 1335 to $ 1650 in this process.
Is the transfer to support Sun Ethereum price while Ethereum struggles with the $1600 resistance? made a move, causing questions.
The wallet to which the famous name transferred already has 79 thousand ETH.
Justin Sun transferred 50M to #Binance just now.
The last time he transferred a large amount of stablecoins to #Binance was 7 days ago.
After that, the price of $ETH rose from $1,335 to $1,620, an increase of 22%.
And this address of Justin Sun holds 79,170 $ETH($125M) now. pic.twitter.com/SRuRn60MsG
— Lookonchain (@lookonchain) October 31, 2022
present a good Ethereum known as a trader. Because it is known that Sun made an enormous profit by selling 340,000 ETH before the big collapse at the peak of Ethereum.
When we look at Sun’s wallet activities, we see that small transfers continue to sell under 50,000 ETH at certain intervals during the downtrend.
Transfers made last week and today may be the first sign of purchase in a long time.
Some analysts evaluate this as a move made to take advantage of the volatility before the FED decision tomorrow.
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