CDS Crypto News Justin Sun Reportedly Planning to Sell $21 Million in DeFi Tokens
Crypto News

Justin Sun Reportedly Planning to Sell $21 Million in DeFi Tokens

23
Justin Sun Reportedly Planning to Sell $21 Million in DeFi Tokens

Justin Sun Allegedly Preparing to Liquidate $21 Million DeFi Holdings

Crypto News- Justin Sun is poised to rake in over $7 million in profits. The DeFi tokens he transferred to Binance are:

  • 93,979 Aave (AAVE), valued at approximately $11.26 million.
  • 3,800 Maker (MKR), worth around $9.3 million.
  • 4,178 Compound (COMP), estimated at $245,000.
  • 203,623 Liquity (LQTY), totaling $217,000.

These transfers originated from three different crypto wallets, with Spot On Chain monitoring 13 addresses linked to Sun.

“These addresses might belong to the entity Justin Sun,” stated Spot On Chain. If Sun goes ahead with the sale, he could see significant profits, particularly from MKR and AAVE. Projections indicate a $6.74 million profit, a 276% gain from MKR, and $252,000, a 2.3% increase from AAVE. Combined, these could net him over $7 million in profits.

Justin Sun Reportedly Planning to Sell $21 Million in DeFi Tokens

However, Spot On Chain has not released any trading history for COMP and LQTY.

Interestingly, the market response has been relatively muted. The current price changes for these DeFi tokens are minimal – AAVE is down by 0.67%, MKR by 2.09%, COMP by 0.40%, and LQTY by 1.82%. Besides these tokens, Sun’s crypto portfolio is vast. In February 2024, he revealed holdings of over 28,000 Bitcoin (BTC) through his HTX account, valued at about $1.6 billion. Additionally, data from Arkham shows his public crypto assets exceed $1.08 billion, making him one of the wealthiest figures in the crypto industry based on available on-chain data.

FAQ on Justin Sun’s Potential $21 Million DeFi Token Sale

Who is Justin Sun?

Justin Sun is a prominent entrepreneur and cryptocurrency figure, known for founding the TRON blockchain platform. He is also the CEO of BitTorrent and has been actively involved in various DeFi projects and the broader crypto ecosystem.

What is the significance of Justin Sun’s potential DeFi token sale?

The potential sale is significant due to the large volume of tokens involved, approximately $21 million worth. This could impact the market dynamics of the specific DeFi tokens he holds, and it highlights Sun’s substantial influence in the crypto space.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Justin Sun Reportedly Planning to Sell $21 Million in DeFi Tokens

Leave a comment

Leave a Reply

Related Articles

BNB Chain Announces New Incubation Alliance to Support Early Stage Projects

BNB Chain Announces New Incubation Alliance to Support Early Stage Projects

Crypto News Today- Millionaire Meme Coin Snipers Share Their Winning Secrets

Meme coin trading is rapidly gaining popularity, with trading volumes hitting new...

Breaking Crypto News – Crypto Markets Net Inflows of $12 Billion This Year

Breaking Crypto News - Crypto Markets Net Inflows of $12 Billion This...

Breaking Crypto News – Mastering May Crypto Investments: Maximizing Returns with Notcoin Launch

Breaking Crypto News - Mastering May Crypto Investments: Maximizing Returns with Notcoin...