- Justin Sun withdrew an estimated $60 million from Binance since last month.
- The withdrawn tokens include 656.4 billion Shiba Inu and 17,433 Ethereum.
- In the last 218 days, Justin Sun took out $237.02 million from Binance.
On-chain resource Lookonchain has called attention to the transaction activities of the renowned founder of the Tron (TRX) blockchain, Justin Sun. Per the disclosure, Justin Sun has withdrawn an estimated $60 million in multiple crypto assets from Binance over the past 30 days.
Among the most withdrawn tokens by the Tron founder from Binance was the popular meme-inspired token Shiba Inu. Data from Etherscan suggested that Justin Sun has moved off 656.4 billion SHIB tokens from Binance in at least three transactions. The Shiba Inu tokens are estimated to hold a market value of $6.3 million.
Meanwhile, Sun had transferred a more staggering dollar value of Ethereum (ETH) tokens within the same observation period. Specifically, Lookonchain disclosed that the Tron founder withdrew 17,433 ETH valued at $43 million. Following closely was AAVE, which Sun moved to reserve 68,999 tokens worth $6.7 million in his private wallet.
Similarly, the Tron founder has transferred 61,249 units of Chainlink (LINK) tokens valued at approximately $1 million from Binance. Other notable coins Justin Sun has taken out of the Binance exchange include meme tokens Floki ($885,000), Decentraland (MANA, $826,000), and BAND ($168,000).
Meanwhile, data from prominent analytic firm Arkham Intelligence suggested that the crypto wallet “0x9FC…c19Fe” associated with Justin Sun had drained $237.02 million in the last 218 days.
Furthermore, Arkham statistics indicated that the wallet’s withdrawal trend peaked in October 2023, a period marked by a significant price surge. Moreover, the data affirmed Justin Sun withdrew more from Binance, with 88% coming from the exchange.
It is worth mentioning that influential crypto investors typically move out tokens from exchanges to private wallets for potential long-term holding. Traditionally, the trend has been identified as a bullish signal since whales send tokens to exchanges during bears for sell-offs.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
