Analyzing the Exodus: Justin Sun Withdraws $60 Million in Crypto from Binance According to On-Chain Data
Over the past month, Justin Sun, the billionaire founder of Tron (TRX), has executed substantial withdrawals of digital assets from Binance, as revealed by on-chain data from blockchain tracking firm Lookonchain.
Between December 18th and January 21st, Sun withdrew a total of $60 million worth of crypto assets, including $43 million in Ethereum (ETH), $6.7 million in Aave (AAVE), and $6.3 million in Shiba Inu (SHIB). The detailed breakdown encompasses 17,433 ETH, 68,999 AAVE, 656.4 billion SHIB, 61,249 LINK, 27.16 billion FLOKI, 1.7 million MANA, and 100,100 BAND. Earlier this month, Lookonchain observed Sun accumulating substantial amounts of Ethereum from Binance, alongside other whales likely securing assets in cold storage.
Additionally, the tracking firm identified a trader with a highly profitable track record depositing over $730,000 worth of UMA (UMA) to Binance following a 90% price surge in the oracle project. This trader has exhibited a remarkable win rate of 100%, realizing profits of approximately $500,000 through four successful UMA trades since November 11th, 2022.
Clever Robot News Desk 23rd January 2024
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