Justin Sun, the founder of TRON (TRX), has been making a name for himself with his big transactions recently. The latest developments show that the inventor of TRON is turning to TrueUSD (TUSD) transfers. Here are the details…
Whale Alert: TRON inventor transmits TUSD
According to on-chain data provider Whale Alert, TRON founder Justin Sun took action. According to the data, Sun is transferring a significant amount of True USD (TUSD) to Binance. On May 1, Sun transferred a full 115.1 million TUSD to Binance in two separate transactions. The first transfer took place on May 1 at 08:57:54 and sent 59 million TUSD to Sun Binance. Just 14 minutes later, at 09:11:36, Sun sent another 56.1 million TUSD to the exchange.
The transfers took place in the midst of a period of volatility in the cryptocurrency market, when many coins were experiencing significant price fluctuations. TUSD is a stablecoin pegged to the US dollar. Cryptocurrency was designed to provide stability and security during market turbulent times. Sun has become a well-known figure in the cryptocurrency industry by founding TRON in 2017. TRON, on the other hand, aims to decentralize the internet. It allows users to publish content without relying on centralized platforms such as Google and Facebook. It is a Blockchain-based platform that allows seamless access to content.
Sun is well known in the cryptocurrency space
Sun has been an open advocate of cryptos, using his social accounts to promote TRON and other coins. It was also involved in a number of deals, including the acquisition of the file-sharing platform BitTorrent in 2018. It is unclear what Sun’s intentions are for TUSD transfers to Binance. Some analysts think that Sun is preparing to buy a certain cryptocurrency. On the other hand, some claimed that Sun wanted to turn some of its assets into cash.
Whatever the reasoning, Sun’s transfers highlight the importance of stablecoins like TUSD in the cryptocurrency ecosystem. With many investors seeking safe havens during times of market volatility, stablecoins offer a valuable alternative to more volatile coins like Bitcoin and Ethereum.
The cryptocurrency market is unpredictable, with prices rising and falling rapidly depending on a wide variety of factors. Stablecoins like TUSD provide a sense of stability and predictability, allowing investors to manage risk and protect their investments in times of uncertainty. As for Sun, his recent transfers show that he follows the market closely and actively manages his crypto assets. Whether he’s preparing for a big buy or simply looking to protect his assets, his moves are sure to be watched closely by investors and analysts.
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