Justin Sun Locks 656.4 Billion Shiba Inu

Shiba Inu Shib

Justin Sun withdrew about $60 million from Binance in the last month, which included 656.4 billion Shiba Inu tokens and 17,433 Ethereum. Over the past 218 days, Sun has taken out a total of $237.02 million from Binance.

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Justin Sun, the well-known founder of the Tron (TRX) blockchain, has been highlighted for his recent transaction activities by the on-chain resource Lookonchain. According to the disclosure, Sun has withdrawn approximately $60 million in various cryptocurrencies from the Binance exchange within the last 30 days.


Justin Sun’s Cryptocurrency Withdrawals from Binance

Justin Sun, the founder of Tron (TRX), has been actively withdrawing various cryptocurrencies from the Binance exchange, according to data from Lookonchain. Among the tokens withdrawn, Shiba Inu (SHIB) stands out, with Sun moving a substantial amount of 656.4 billion SHIB tokens from Binance in at least three transactions. The market value of these SHIB tokens is estimated to be around $6.3 million.

Shiba Inu withdrawal from Binance to Justin Sun Private Wallet | Etherscan

In addition to Shiba Inu, Sun has made significant withdrawals in Ethereum (ETH) during the same period. The Tron founder reportedly withdrew 17,433 ETH with a total value of $43 million. Another notable withdrawal was in AAVE, with Sun moving 68,999 tokens worth $6.7 million to his private wallet.

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Sun’s transactions also include the transfer of 61,249 Chainlink (LINK) tokens from Binance, valued at approximately $1 million. Other notable tokens withdrawn by Justin Sun from the Binance exchange include meme tokens such as Floki ($885,000), Decentraland (MANA, $826,000), and BAND ($168,000).

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Justin Sun’s Cryptocurrency Withdrawals: A Closer Look

Recent data from the well-known analytic firm Arkham Intelligence has shed light on the cryptocurrency transactions of Justin Sun, the founder of Tron (TRX). The crypto wallet linked to Justin Sun, identified as “0x9FC…c19Fe,” has reportedly withdrawn a substantial amount, totaling $237.02 million, over the last 218 days.

Justin Sun Wallet | Arkham Intelligence

Arkham Intelligence’s statistics further reveal that the peak of this withdrawal trend occurred in October 2023, a period marked by a significant surge in cryptocurrency prices. Notably, the data indicates that a significant portion of Justin Sun’s withdrawals, approximately 88%, originated from the Binance exchange.

It’s essential to note that influential crypto investors often move their tokens from exchanges to private wallets, a strategy associated with potential long-term holding. This practice is traditionally considered a bullish signal, as it contrasts with the trend where whales deposit tokens on exchanges during bear markets for potential sell-offs.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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