Tron Founder Justin Sun Sparks Concerns With $13.8 Million Ethereum Withdrawal From Binance
U.Today – The cryptocurrency community is abuzz with shock and concern following the recent news of Justin Sun, the founder of Tron, withdrawing a staggering $13.8 million worth of Ethereum (ETH) from Binance. This move has raised eyebrows and sparked discussions about Sun’s motives within the crypto space.
PeckShieldAlert Highlights Suspicious Transaction
The blockchain security company, PeckShieldAlert, brought attention to the withdrawal through a tweet, labeling the address 0x9FCc…19Fe as “Suspicious Justin Sun related.” The withdrawal totaled 6,166 ETH, equivalent to approximately $13.8 million, triggering concerns and speculations within the community.
Market Fluctuations and Trading Volume
As of the latest update, the price of Ethereum stands at $2,239, reflecting a 1.55% decrease in the last 24 hours. However, the cryptocurrency has witnessed a more substantial increase of 7.22% over the past 30 days. Interestingly, Ethereum’s trading volume has surged by over 14.89% in the last 24 hours, reaching a total of $9,184,315,852.
Justin Sun’s Cryptic Moves
This development comes on the heels of Sun’s earlier notable withdrawals, including massive amounts of Shiba Inu (SHIB) tokens from Binance. These transactions had already raised eyebrows, prompting discussions about Sun’s strategic moves on the market. Adding to the intrigue, Sun announced his decision to actively engage in trading meme coins and promising projects through his public address, indicating a shift in his investment strategy.
Growing Concerns and Speculations
The latest Ethereum withdrawal only adds to the growing concerns and speculations surrounding Justin Sun’s cryptocurrency activities. The community is now closely monitoring further statements or actions from Sun that may shed light on his motives and intentions behind these significant transactions.
This article was originally published on U.Today
