Justin Sun’s Recent Actions
Justin Sun, the founder of Tron and HTX advisor, has reportedly withdrawn a significant amount of altcoins from Binance exchange within a month. According to Lookonchain data, Sun’s withdrawals include $43 million in Ethereum (ETH), $6.7 million in Aave (AAVE), $6.3 million in Shiba Inu (SHIB), and other assets like Chainlink (LINK) and Decentraland (MANA).
“Since Dec 18, 2023, Justin Sun has withdrawn $60M assets from Binance,” said Lookonchain, an on-chain intelligence provider.
Insight into Justin Sun’s Wallet Activities
In response to Lookonchain’s claims, the analytics firm Arkham Intelligence delved deeper into Justin Sun’s wallet activities. Arkham revealed that an address associated with Sun has withdrawn over $235 million in the last 218 days. Notably, on December 18, the wallet linked to Sun made withdrawals of 500 billion SHIB (worth $5.1 million) and 70 billion SHIB (approximately $900,000) the next day.
“The report comes amid a distributed denial-of-service attack on HTX exchange and HTX DAO, to which Sun responded and assured that services are back to normal,” explained Sun on Twitter.
The significant volume of asset withdrawals by Sun has sparked discussions within the crypto community about his intentions and the potential impacts on the asset prices, particularly as Ethereum experiences a 3.53% decrease in the last 24 hours, trading at $2368.
Despite the recent dip in Ethereum’s price, its trading volume has shown a remarkable uptick of 14.89% in the last 24 hours, totaling $9,184,315,852. The consistent outflow of ETH and other tokens from Binance is perceived positively by the crypto community, indicating a bullish trend as it suggests a substantial accumulation of cryptocurrency by a prominent investor.
