Massive Burns: Giant Investor First Bought These 2 Altcoins, Then Burned It!

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  • The popular cryptocurrency whale first bought large amounts of Tron and Polygon, then removed these coins from circulation.

74th largest BNB whale, known by the nickname “Scarlet Witch”, worth $226.23 million TRON (TRX) and valued at $128.34 million Polygon (MATIC) did the burning.

According to Whalestats data, TRON (TRX) has attracted the attention of the 74th largest BNB whale, and as of June 10, the popular cryptocurrency has returned to the list of the 10 most purchased tokens among the 100 largest BNB whales in the last 24 hours.

According to data from WhaleStats, BNB whale Scarlet Witch bought 2.80 billion units of TRON tokens worth $226,231,599 ($226.23 million) in a single big transaction.

After purchasing a large amount of TRON tokens from a wallet affiliated with Binance, the world’s largest exchange in terms of daily trading volume, Whale transferred the entire accumulated token, ie 2.80 billion TRX, in a giant transaction, as reported by Etherescan.io. It was sent to the address.

This was not the first time the giant whale sent such a large amount of TRON to the dead wallet. The giant crypto wallet took a total of 11,100,000,000 (11.10 billion) TRX out of circulation in a single large transaction on the same date (June 10, 2021) exactly one year ago.

According to Etherscan.io data, the 74th largest whale no longer holds any of the TRON coins it receives in its wallet. The current circulating supply of TRON stands at 92.79 Billion TRX coins.

Whale burns $128.34 million worth of Polygon

Alongside Tron, the deep-pocketed BNB coin investor bought a staggering amount of Polygon (MATIC) tokens and removed them from circulation forever.

As reported by WhaleStats, the 74th largest BNB Whale tagged “Scarlet Witch” purchased a total of 200 million MATICs worth $128,340,600 ($128.34 million) from “Binance: Hot Wallet 6” in a remarkable transaction.

Etherscan.io also confirmed that after the massive accumulation, the whale permanently removed 200 million MATICs from circulation in a single large OUT transaction.

Earlier, Scarlet Witch burned 1.70 billion MATIC coins worth $1.08 billion at the beginning of 2022.

Burning TRX and MATIC, the same BNB whale in a single large transaction worth $31.6 million for a total of 400 million Dogecoin (DOGE) It came a few hours after he made the giant purchase.

At the time of writing, TRON is trading at $0.079, down nearly 2% in the last 24 hours, with 24-hour trading volume up 7% to $740 million.

However, MATIC is trading at a 24-hour trading volume of $503,117,776 ($503 million) and a price level of $0.61.

You can check the price movements here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.


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