thecoinrepublic.com
- 1 Over $60 Million worth of digital tokens were moved to Justin’s wallet on December 18, 2023.
- 2 On January 21, Justin transferred over 79.33 Billion SHIB tokens to the wallet.
Justin Sun, the inventor of Tron Blockchain and Shiba Inu (SHIB) is in the headlines nowadays. He withdrew digital tokens of over $60 Million on December 18, 2023. Binance is the platform from where the massive withdrawal took place. The action somehow boosted the expectations of crypto enthusiasts.
Justin Sun’s Wallet Withdrawals Totaling
As per the latest report, Justin Sun has withdrawn around $8.1 Million worth of different cryptocurrencies from Binance, probably the world’s biggest exchange. In the past three days, he withdrew over seven assets including 59,000 ($5.73 million) in AAVE and 200,000 ($2.43 million) in XVS, FOLKI, LINK, BAND, SHIB, and MANA.
Notably, the wallet address 0x9fc drew over $12.7 Million worth of 7 tokens in the past three days.
Withdrawal of the Shiba Inu is one of the most interesting parts of Justin’s withdrawal procedure. In December 2023, Sun drew around 500 Million ($5.22 Million) SHIB. Furthermore, On January 21, 2024, over 79.33 Billion ($789,000) SHIB tokens found their home in Justin’s wallet.
Since December 18, 2023, Justin Sun’s wallet has been filled with a total of $60 Million from the Binance platform. Many tokens and digital assets contributed to generating such a big amount. Ethereum is one of the major contributors, as Sun has withdrawn ETH valued at $43 Million. Other tokens include $6.7 Million in AAVE, $6.3 Million in SHIB, $885,000 in MANA, $957,000 in FOLKI, and $168,000 in BAND.
Furthermore, Justin’s continuous withdrawal has caught the awareness of the crypto community, expecting potential impacts on the cryptocurrency market.
In addition to this, the activeness of these practices during the time of altcoin season end, expecting a drastic influence on altcoin price. Large withdrawal amount creates a high chance of major influences on the supply of cryptocurrencies. However, Ethereum and Bitcoin prices experienced a decline in the past week. Additionally, the Altcoin season index witnessed 73 as of January 21.
Token’s Performance
Focusing on the past 24 hours’ data, the SHIB token experienced a decline of 3.55%, standing at $0.000009166. The 24-hour volume of SHIB is $115,877,911 and the market cap is $5,405,207,864.
On the other hand, the BTC price at current is $40,906.03, a decline of 1.8% in the past 1 day. Bitcoin’s market cap is $801,759,082,625 and 24-hour volume is $15,361,030,173. Additionally, the drop is experienced in other coins.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.