Justin Sun, the famous founder of Tron and one of the leading names in the crypto money industry, made important maneuvers in response to Bitcoin’s recent rise above $ 30,000. Sun’s strategic moves include significant withdrawals from liquidity pools and Ethereum stakes, demonstrating its active participation in the market. Tron founder Justin Sun has made significant moves in the cryptocurrency market. Here are the details of Sun’s latest moves…
TRON inventor mobilizes funds
According to data from blockchain records, Sun recently pulled an impressive $15.36 million worth of stablecoins from various liquidity pools on BSC. In particular, it has stepped up its actions by transferring some of these funds to centralized exchanges (CEX). He invested $9.13 million in BUSD, USDT, USDC and TUSD in Binance and $5 million in USDD in Huobi. It has also withdrawn $250,000 worth of TUSD from Binance and added liquidity to the TSUD-WIN pool on BSC.
On Ethereum’s Blockchain, Sun has requested the withdrawal of all 15,805 stETH tokens from Lido Finance, a decentralized platform that allows users to stake their ETH and earn rewards. Having purchased 15,570 ETH from Poloniex for an average of $1,199 ($18.67 million) in June last year, Sun has staked 15,560 ETH on Lido since February 27 (115 days ago), currently worth $28.5 million. was doing. Sun’s actions attracted attention as they coincided with Bitcoin’s spike above $30,000.
Sun invested $9.13 million in BUSD, USDT, USDC and TUSD, allocating a significant portion of the withdrawn funds to Binance. It also further diversified its portfolio by diverting $5 million in USDD to Huobi. These moves highlight Sun’s focus on taking advantage of different opportunities in the market.
What is Sun’s strategy?
As a related development, Sun has made a strategic move on the Ethereum Blockchain. It has requested to withdraw all 15,805 stETH tokens from Lido Finance, a decentralized platform that allows users to stake their ETH holdings and earn rewards. It should be noted that Sun bought 15,570 ETH from Poloniex at an average price of $1,199 last year, raising a substantial $18.67 million in ETH. Since February 27, i.e. about 115 days ago, Sun was actively staking 15,560 ETH on Lido Finance. Its stock is currently valued at an impressive $28.5 million.
Sun’s strategic moves have attracted attention in the crypto money community, coinciding with a period when Bitcoin has risen above $ 30,000 recently. An influential figure in the industry, Sun’s actions often provide insight into market sentiment and investment strategies. Withdrawals from liquidity pools and staking Ethereum aligned with Bitcoin hitting over $30,000. While Sun’s actions as an influential figure continue to fascinate the industry, it is vital that individuals exercise caution and make informed decisions when engaging in cryptocurrency investments.
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