Justin Sun’s Massive Crypto Withdrawal
$60,000,000 worth crypto from Binance was withdrawn by Tron founder Justin Sun between December 18th, 2023, and January 21st, 2024. Blockchain tracking firm Lookonchain reported that Sun withdrew various altcoins, including $43 million worth of Ethereum (ETH), $6.7 million worth of Aave (AAVE), and $6.3 million worth of Shiba Inu (SHIB).
The list of withdrawn assets also included $957,000 worth of Chainlink (LINK), $885,000 worth of Floki Inu (FLOKI), $826,000 worth of Decentraland (MANA), and $168,000 worth of Band Protocol (BAND).
Ethereum Accumulation and Smart Trading
Earlier in the month, Lookonchain spotted Sun accumulating large amounts of Ethereum from Binance, along with other whales seemingly moving coins into cold storage. Additionally, a trader with a successful track record deposited over $730,000 worth of the oracle project UMA (UMA) to Binance following its recent rally.
This trader had previously traded UMA four times since November 11th, 2022, buying at low prices and selling at highs each time, resulting in a profit of approximately $500,000 and a perfect win rate.
UMA’s Price Action and Cryptoview.io
At the time of writing, UMA is trading at $5.29, up 5.53% in the last 24 hours. To stay informed about the latest price actions and news in the crypto world, consider using cryptoview.io. This platform offers valuable insights and tools to help you make informed decisions in the ever-changing world of cryptocurrencies.
