The inventor of Tron, Justin Sun, has caused a stir in the cryptocurrency industry by withdrawing a sizeable $13.8 million worth of Ethereum (ETH) from Binance in a recent incident that has shocked everyone. Prominent blockchain security firm PeckShieldAlert brought attention to the transaction in a tweet that sparked questions about the withdrawal.
The tweet stated that 6,166 ETH, or around $13.8 million, had been withdrew from Binance by the address 0x9FCc…19Fe. In the cryptocurrency community, the term “Suspicious Justin Sun related” has sparked rumours and worries, prompting many to wonder why such a large withdrawal would be made.
https://x.com/PeckShieldAlert/status/1739553216713683053?s=20
According to the most recent statistics, Ethereum’s price is currently $2,239, down 1.55% over the previous day. But during the last 30 days, there has been a more notable increase of 7.22% in the value of the cryptocurrency. It’s interesting to note that Ethereum’s trading volume increased by more than 14.89% in the past day to reach a total of $9,184,315,852, despite recent market swings.
Justin Sun’s cryptic moves
Following Justin Sun’s previous well-publicized withdrawals, in which he removed substantial quantities of Shiba Inu (SHIB) tokens from Binance, comes this revelation. 500 billion SHIB tokens were taken out in the initial withdrawal, which was followed by another withdrawal totaling about 77 billion SHIB tokens. The crypto community had already expressed disapproval of these purchases, which had sparked debates over Sun’s calculated market movements.
To further heighten the mystery, Justin Sun declared in a public speech on May 11 that he would be actively trading meme coins and promising initiatives. With the announcement, Sun’s investing approach appeared to have changed, favouring more speculative and meme-driven digital assets.
The most recent Ethereum withdrawal simply serves to fuel rumours and worries about Justin Sun’s cryptocurrency endeavours. The cryptocurrency community is currently keeping a careful eye on any more remarks or acts made by Sun that can clarify the reasons and goals behind these noteworthy transactions.
