Justin Sun’s Bold $4 Million Bet on SHIB, AAVE, and LINK

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Justin Sun, a controversial crypto figure, unexpectedly pulled many altcoins from Binance. The crypto community is abuzz over TRON founder Justin Sun’s strategic acquisition of SHIB, AAVE, and LINK. What makes this move noteworthy is that Sun’s wallet, previously reserved for stablecoins and ETH, is now actively involved in altcoin transactions. This action has raised the likelihood of rallies, suggesting Sun believes in these smaller enterprises.

Excited to know Sun’s new investment portfolio, let’s delve in!

Accumulation Details

Recent on-chain data from Justin Sun’s wallet address has become the talk of the crypto town. Spotonchain’s metrics reveal significant transactions involving seven digital assets—SHIB, AAVE, LINK, FLOKI, MANA, XVS, and BAND. All these assets, collectively valued at over $4 million, were strategically withdrawn from Binance, the world’s leading cryptocurrency exchange.

Noteworthy Withdrawals

When we look more closely at the data, we see that Sun’s wallet address has been accumulating these assets over the last 24 hours through several transactions. AAVE took the lead in withdrawals, totaling an impressive $1.007 million, closely followed by LINK with $940.177K. Other assets like FLOKI, MANA, SHIB, XVS, and BAND contributed to this orchestrated move, each playing a role in shaping the crypto space. Of particular interest is Sun’s withdrawal of 500 billion SHIB, aligning with a significant surge in Shiba Inu’s burn rate—a remarkable 2924.74% upswing that has captured the attention of the SHIB army.

Market Reactions

The market responded with varying price shifts over the past 24 hours. While AAVE experienced a modest rise, LINK saw a slight dip. MANA and FLOKI showed measured gains, SHIB and BAND exhibited a mix of movements, and XVS encountered a slight dip.

As of the latest update, AAVE sits at $101.42, showing a marginal 0.05% rise, while LINK dropped by 3.36% to $15.44. MANA experienced a 0.66% jump, reaching $0.4599, and FLOKI saw a 0.58% dip, reaching $0.00003088. Shiba Inu and BAND had their fluctuations, while XVS fell by 0.63%, currently at $11.95. 

Other Suspicious Transactions 

In a parallel development, two other whale wallets, labeled 0xab0 and 0x846, withdrew a combined 1.26 million RNDR ($5.3 million) from Binance. These wallets currently hold varying amounts of RNDR and ETH. Another whale, identified as 0x4dc, deposited 9.26 million CHZ ($1.02 million) to Coinbase at $0.11 after previously withdrawing these tokens from Coinbase at a lower average price.

Big and influential transactions can affect the crypto industry, which is climbing up the ETF ladder, both positively and negatively. What do you think? Tell us.