TRON founder Justin Sun announced in an important announcement on May 11 that he will start trading crypto very soon. Reports indicate that Sun currently holds $800 million in AAVE and these 29 coins.
TRON founder owns these altcoins
As we reported as Kriptokoin.com, Sun announced that it will start trading very close meme tokens on Twitter on May 11. The founder name plans to donate the profits from this to charity. He also stated that he would personally cover potential losses.
It is unclear which meme tokens the TRON founder will buy and sell. Shortly after their announcement, Arkham Intelligence reported that Sun has $800 million worth of coins in its portfolio, including AAVE, ETH, MKR, and COMP.
https://twitter.com/ArkhamIntel/status/1656602401938259968
Here is Justin Sun’s altcoin portfolio
According to reports, the Tron founder currently has over $800 million in assets. The biggest investments and weights are as follows:
- 23,987 ETH
- 241.267 million VUSDT
- 148,048 MATIC
- 334,606 CRVs
- 1.229 million ATUSD
- 404.4630 USDT
- 10,302 million EPIK (EPIK Prime)
- 6,802 MKR
- 61,853 3CRV (LP 3pool Curve)
- 5,714 million UT
- 328,009 SUSHI
- 700,000 OOE (OpenOcean)
- 1.09 million USDC
- 4,178 COMP
- 32.31 CVX
- 17,831 MULTI
- 161.753 million USDD
- 303.660 STETH (Lido Staked ETH)
- 2.105 XVS (Venus)
- 56,745 million VBUSD
- 641,400 DG (Decentral Games)
- 11,910 AAVE
- 4,591 million ZRX
- 1.02 million BUSD
- 7,557 CAKE (PancakeSwap)
- 26,177 TUSD (TrueUSD)
- 11,282 WBTC
Memes rained down on Tron founder’s wallet
A cryptocurrency wallet affiliated with Justin Sun has recently been exposed to popular “meme coin” projects. The wallet in question was seen selling large volumes of cryptocurrencies on May 18, especially when memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB) suffered a massive drop.
The owner of this wallet, Justin Sun, is a well-known name in the cryptocurrency community and is the founder of the Tron (TRX) cryptocurrency. The wallet in question is also estimated to hold a cryptocurrency portfolio of around $2.6 billion.
#PeckShieldAlert #JustinSun continues to receive multiple Shitcoins following his tweets.
We have noticed that a scammer gang created a counterfeit $FOUR 4 days ago & used 0xac82…2a9 to pretend to be #JustinSun.
The scammers pretend to be #JustinSun, buying tons of fake $FOUR… pic.twitter.com/L4axTLR6as— PeckShieldAlert (@PeckShieldAlert) May 11, 2023
After these sales, the value of memecoins like Dogecoin and Shiba Inu dropped drastically. Dogecoin fell by 30 percent on May 18, falling from $ 0.37 to $ 0.25. Likewise, the Shiba Inu lost 50 percent of its value.
This situation brought with it the reaction to Justin Sun. In the crypto community, allegations that Sun intervened in the memecoin market by making these sales came to the fore. Some users suggested that Sun’s aim was specifically to manipulate the cryptocurrency market.
Is Justin Sun malicious?
Meanwhile, some experts think Sun just wants to protect its portfolio by making these sales. In particular, while cryptocurrencies have been experiencing great fluctuations recently, it is quite common for investors who want to protect their portfolio to make similar sales. As a result, the growing popularity and volatile market of meme coins encourage investors to frequently review their portfolios and manage their risk.
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