The prices of bitcoin and altcoin projects are consolidating ahead of US CPI data after pulling back after strong US jobs data. While some analysts expect further corrections in the market, Tron founder Justin Sun prefers stablecoins as safe havens.
Sun invests million USDT in Aave Lending Pool v2
Tron inventor Justin Sun has made a significant $33M USDT transfer to Aave Lending Pool v2. Blockchain security firm PeckShield revealed that the source of the transfer was Poloniex exchange, where Sun bought USDC two years ago. According to experts, the reason behind this move by Justin Sun lies in managing crypto assets and keeping them safe. At the same time, the approach to maximize returns comes to the fore. Regarding the transfer in question, PeckShield shared the following:
Justin Sun’s tagged address deposited ~33M USDT into Aave’s Lending Pool V2. This USDT comes from 10 addresses that each received ~3.3 million USDT from Poloniex about 2 years ago.
What does the Tron inventor’s move mean?
One of the reasons behind Justin Sun’s transfer to Aave can be attributed to his desire to earn interest on USDT. Because instead of investing in volatile ETH, BTC and other similar altcoins, Sun prefers stablecoins pegged to the US dollar. By transferring this to Aave Lending Pool, it seeks to earn interest. cryptocoin.comAs you follow, the cryptocurrency market is facing a lot of uncertainty right now. Many market analysts are predicting a correction. This makes the Tron inventor’s strategy of moving funds into a lending pool a prudent one.
Also, according to experts, the fact that Sun has made a lot of transfers to different places recently may mean that he is making a profit from the positions he opened before. The move is also in line with the trend of many crypto investors looking to capitalize on yield farming opportunities in DeFi, which can generate attractive returns without risking holding volatile assets.
Meanwhile, the Tron inventor is not only taking advantage of the lending pool’s yielding features, but also demonstrating his confidence in the platform by transferring funds to Aave. Because Aave has a solid track record of providing stable returns to its users without encountering security issues. In this regard, Aave is seen as one of the most secure DeFi protocols. Sun’s $33 million USDT transfer to Aave Lending Pool v2 demonstrates his clever approach to managing crypto assets.
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