coinspress.com
Billionaire Justin Sun, the founder of Tron (TRX), has recently moved substantial amounts of digital assets from the crypto exchange Binance, as indicated by on-chain data.
According to information from blockchain tracking firm Lookonchain, between December 18th and January 21st, Sun executed withdrawals of various altcoins, including $43 million in Ethereum (ETH), $6.7 million in Aave (AAVE), and $6.3 million in Shiba Inu (SHIB).
Reportedly, since December 18th, 2023, Justin Sun has withdrawn approximately $60 million in crypto assets from Binance.
The breakdown of these withdrawals includes 17,433 ETH ($43 million), 68,999 AAVE ($6.7 million), and 656.4 billion SHIB ($6.3 million), among others such as 61,249 LINK ($957,000), 27.16 billion FLOKI ($885,000), 1.7 million MANA ($826,000), and 100,100 BAND ($168,000).
Earlier this month, Lookonchain observed Justin Sun, along with other prominent investors, accumulating significant amounts of Ethereum from Binance.
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This move suggests a trend of transferring assets into cold storage. Additionally, the tracking firm noted a trader with a highly profitable track record depositing over $730,000 worth of UMA (UMA) into Binance following the recent surge in the price of the oracle project.
The UMA price surged by 90% on the day in question, prompting the savvy trader to deposit 190,169 UMA ($730,859) into Binance. Notably, this trader has demonstrated a successful trading strategy with UMA, making four trades since November 11th, 2022, consistently buying at low prices and selling at highs. The trader has achieved a profit of approximately $500,000 with an impressive win rate of 100%.