In the past 30 minutes, Justin Sun, the founder of TRON, allegedly deposited $21 million worth of four DeFi tokens to Binance.
The tokens include:-
- 93,979 AAVE valued at $11.26 million
- 3,800 MKR valued at $9.3 million
- 4,178 COMP valued at $245,000
- 203,623 LQTY valued at $217,000
If Sun decides to sell now, he stands to make substantial profits, particularly from MKR and AAVE. For MKR, he could realize an estimated profit of $6.74 million, reflecting a remarkable 276% gain. For AAVE, the estimated profit would be $252,000, representing a 2.3% gain.
It turns out to be Justin Sun (@justinsuntron)!
In the past 30 minutes, Justin Sun has deposited $21M worth of 4 assets to #Binance, including:
• 93,979 $AAVE ($11.26M)
• 3,800 $MKR ($9.3M)
• 4,178 $COMP ($245K)
• 203,623 $LQTY ($217K)Follow @spotonchain and set alerts for… https://t.co/0u9Uo9mpQq pic.twitter.com/jW2OOURRib
— Spot On Chain (@spotonchain) June 10, 2024
The movement of such large amounts of DeFi tokens by a high-profile figure like Sun is likely to attract significant attention in the crypto community. Sun’s potential profits underscore the lucrative nature of strategic investments in the DeFi space. This also signals his confidence in the current market conditions as favorable for selling.
These transactions highlight the dynamic nature of the cryptocurrency market, where substantial value can be created and realized swiftly. Investors and market watchers will undoubtedly keep a close eye on Binance to see if these tokens are indeed sold and how it might affect the market prices of AAVE, MKR, COMP, and LQTY.
As these developments unfold, they serve as a reminder of the impact that influential figures like Justin Sun can have on the market. The potential sale of these tokens could influence market sentiment and price movements, making it a significant event for those invested in DeFi tokens.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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