Justin Sun, the creator of Tron (TRX), recently withdrew $5.22 million worth of Shiba Inu (SHIB). This was his highest withdrawal amount in four days of multiple token withdrawals, suggesting accumulation.
On December 19, SpotOnChain data revealed a significant withdrawal by Justin Sun. The Tron creator pulled 500 billion SHIB, equivalent to $5.22 million, from Binance. Particularly, this recent event suggests he is making strategic moves as the cryptocurrency market shows signs of the 2021 greed levels once again.
Notably, analysts have been predicting the onset of an altseason, where altcoins could surge past Bitcoin’s (BTC) performance. Sun’s withdrawals could indicate his anticipation of this shift.
Moreover, the cryptocurrency market was trading bearishly in the previous week. This created potential buying opportunities for keen investors like Justin Sun.
Justin Sun’s withdrawals in the past 4 days
Interestingly, Justin Sun’s recent activity extends beyond SHIB. Over the past four days, he has extracted $7.35 million in various assets from Binance. These assets include 500 billion SHIB ($5.22 million), 127,510 LINK ($1.82 million), 202,385 STORJ ($190,000), 53.68 billion PEPE ($76,200), and 13,904 DYDX ($43,700).
The size and diversity of these withdrawals by Justin Sun warrant attention. Cryptocurrency investors are watching closely as the market reacts to these large-scale movements. In particular, his actions could influence copy traders to make similar acquisitions.
As the story develops, more insights might surface about the motivations behind Sun’s financial maneuvers. However, investors must not base their entire financial decisions on influential figures’ actions.
Essentially, the cryptocurrency market is volatile, unpredictable, and easily moved by whales and market makers. It is indispensable that each trader do their due diligence and apply proper risk management on each operation.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
