Justin Sun Withdraws 100 Million TRX From Binance in Coordinated Move

TLDR

• Justin Sun withdrew 100 million TRX worth $27.96 million from Binance today.
• The transfer was followed by a $5 million USDT deposit to the same wallet.
• The withdrawal and deposit occurred just a minute apart, signaling a coordinated action.
• The wallet now holds approximately 492 million TRX, valued at $137.81 million.
• Justin Sun’s wallet has been accumulating large amounts of TRX over the past few days.

Justin Sun, the founder of Tron, made headlines today as he withdrew 100 million TRX, valued at $27.96 million, from Binance. This withdrawal occurred just a minute after a transfer of $5 million in USDT to the same wallet. The movements, observed by Onchain Lens and reported by Arkham Intelligence, caught the attention of crypto enthusiasts.

100 Million TRX Withdrawn From Binance

The wallet linked to Justin Sun, a prominent figure in the crypto world, withdrew 100 million TRX earlier today. The withdrawal amounted to approximately $27.96 million, drawing immediate market interest. According to data, this withdrawal came within minutes of a $5 million USDT deposit into the same wallet.

This highly coordinated transfer raised questions about Justin Sun’s strategic intentions with TRX. Many market watchers speculated that this move indicated long-term holding plans. Given the size of the transaction, it is being interpreted as part of a broader accumulation strategy.

Recent TRX Accumulation by Justin Sun

The wallet in question now holds approximately 492 million TRX, valued at $137.81 million. This marks TRX as the second-largest asset in this wallet, behind only STRX. In the last few days, the same wallet has been steadily accumulating more TRX, further raising investor curiosity.

On November 29, the wallet received 34.76 million TRX from SunSwap. It followed this with another transfer of 86.77 million TRX from the same platform, indicating ongoing accumulation. With the recent additions, the wallet’s TRX holdings have grown considerably.

Despite the recent withdrawal, TRX has shown minimal price movement. The token has remained in a tight price range of $0.27 to $0.28. It has only seen a 0.66% increase in the past 24 hours, trailing behind the stronger performances of Bitcoin and Ethereum.

Over the past week, TRX gained 1.85%, but it remains down 4.23% for the month. As of now, TRX holds a market cap of $26.51 billion, ranking it as the eighth-largest cryptocurrency by market capitalization. Justin Sun’s recent actions with TRX have amplified speculation on the coin’s future performance.

The post Justin Sun Withdraws 100 Million TRX From Binance in Coordinated Move appeared first on CoinCentral.