In the past day, Justin Sun, the prominent cryptocurrency entrepreneur, deposited 6.22 million CRV tokens ($2.07 million) to Binance at a price of $0.333 per token.
Among these tokens, 5 million CRV were acquired from Curve founder Michael Egorov at an over-the-counter (OTC) price of $0.4 last August.
In addition to CRV, Sun also transferred another $333,000 worth of various assets to Binance. These assets included:
– 37,740 CVX ($125,000)
– 148,003 MATIC ($86,400)
– 29,332 GAL ($72,100)
– 106,864 WOO ($24,300)
– 62,500 PROS ($22,700)
– 17,562 TRU ($2,800)
Overall, Justin Sun has deposited a total of $23.4 million in 11 different tokens, primarily from the DeFi sector, to Binance over the past week. This substantial movement of funds highlights Sun’s significant activity in the cryptocurrency market and his strategic positioning in DeFi assets.
15hrs ago, Justin Sun (@justinsuntron) deposited another $14.3M in 8 assets to #Binance, including:
• 3.45M $ETHFI ($12.05M) – claimed from airdrop.
• 6.22M $CRV ($1.96M) – of which 5M $CRV was purchased from Curve founder at $0.4 via OTC last Aug.
• and $333K in 6 other… https://t.co/HD7MolDzBf pic.twitter.com/5XYZgLO9l4
— Spot On Chain (@spotonchain) June 18, 2024
Curve Finance’s CRV Goes Through A Price Decline Following The Move
Curve Finance, the latest token to be deposited on a centralized exchange (CEX), experienced a 5% decline in value today. The deposit of CRV by such a high-profile figure could be seen as an indicator of broader market trends and sentiment.
Justin Sun’s notable transactions come at a time of heightened activity and volatility in the cryptocurrency market. His movements are often closely watched by traders and analysts, as they can influence market dynamics and provide insights into potential market directions.
As the market continues to react to these significant deposits, it remains to be seen how Justin Sun’s strategic positioning will impact the prices and perceptions of these DeFi tokens in the coming days.
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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