Surprisingly, Tron founder Justin Sun recently made significant transactions involving millions of dollars worth of meme coins on the Binance cryptocurrency exchange. According to information shared by Lookonchain, the Blockchain community is abuzz with speculation as Sun’s wallet received 500 billion Shiba Inu (SHIB) in a single transaction. This move comes amid a dynamic market where SHIB is experiencing a daily gain of 4% and is trading at $0.00001047, as reported by CoinGecko. Meanwhile, some whales transferred AUCTION, which increased by 50 percent on a daily basis, to their wallets. Here are the details…
TRON founder’s SHIB shooting attracted attention
Blockchain platform Lookonchain announced that Justin Sun made a significant withdrawal from Binance, adding 500 billion SHIB to his wallet. Considering SHIB’s recent daily rise and current trading price, this transaction has caught the attention of the crypto community. Sun’s strategic move points to potential market insights as the value of the withdrawn SHIB alone exceeds $5 million.
Etherscan data reveals that the total crypto value of the wallet address used by Sun for SHIB withdrawal exceeds $430 million. This raises questions about Sun’s broader investment strategy and the importance of meme coins in its portfolio. In addition to the SHIB draw, Justin Sun continued his weekend spree by withdrawing various cryptocurrencies from Binance. Notable transactions include 127,510 Chainlink (LINK), 202,385 Storj (STORJ), 53.6 billion Pepe (PEPE), and 13,904 dYdX (DYDX), whose total value was over $2 million during the trading period. Sun’s various portfolio moves indicate a strategic approach to cryptocurrency investments.
The purpose behind Sun’s transaction is unclear
Sun’s actions on Binance underscore its active participation in the crypto market and position itself strategically among different tokens. The market is waiting to understand Sun’s reasoning behind these withdrawals and their potential impact on the respective cryptocurrency ecosystems. While Justin Sun continues to make a splash in the cryptocurrency world, his latest moves at Binance raise curiosity about the evolving dynamics of the market.
Whales attract AUCTION
Meanwhile, on December 19, Scopescan revealed a significant movement in the cryptocurrency space when a whale withdrew 54,800 AUCTION from Binance and transferred it to Multibit. This development added a new dimension to the ongoing narrative surrounding large-scale transactions. Additionally, Lookonchain, which further intensified the cryptocurrency market on December 19, reported that three new addresses attracted a total of 67,983 AUCTION (approximately $2.6 million) from Binance in the last two hours. Meanwhile, it is worth noting that AUCTION increased by 50 percent.
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