It will surprise you, but the Tron inventor’s latest altcoin transactions are on the agenda. Justin Sun pulled 20 million USDT from Aave and deposited it in Binance. This transaction has sparked mixed reactions within the crypto community. BNB experienced a sudden price increase within an hour of Sun’s transfer.
Important move from the inventor of TRON
The crypto market has seen a sudden surge when Justin Sun, the well-known founder of TRON (TRX), made a significant USDT transfer to Binance against the 22% drop in Binance Coin (BNB) last week. Withdrawn 20 million USDT from Sun Aave. Accordingly, he deposited the same amount on Binance.
This has sparked speculation and mixed reactions within the crypto community. The news emerged when Lookonchain, a prominent market follower, shared the transfer details via Twitter. In the comments section, crypto enthusiasts talked about the action of TRON inventor Sun. He also voiced his views on the potential impact of this on BNB.
Justin Sun withdrew 20M $USDT from #Aave and deposited 20M $USDT to #Binance 10 mins ago.https://t.co/cuMtGXUW7J pic.twitter.com/Zu8HxEuuul
— Lookonchain (@lookonchain) June 12, 2023
What does it all mean?
An enthusiast suggested that Sun’s move was an attempt to save BNB from the recent downtrend. He described it as “literally insane.” Others were more critical. They claim that trying to influence the market with such transfers of big money amounts to manipulation. These comments also refer to the legal issues Binance is facing. In the midst of the controversy, another Twitter user named Milkyway states that the Tether transfer is associated with the renewed TrueUSD (TUSD) offering. this view offers a slightly different perspective. On the other hand, this comment hints at the possibility that the actions of TRON inventor Sun are related to the support of the contract swap of TrueUSD by Binance, which Justin Sun himself retweeted. This corresponds to the renewed TUSD offers.
TRON inventor Sun’s high-profile status and significant USDT transfer are intriguing. That’s because combined with continued market volatility has led to increased speculation as to whether its move was an attempt to stabilize BNB. Interestingly, BNB spiked in price from $220.4 to $234 within an hour. This unexpected move added more intrigue to the situation. Subject to cryptocoin.com When we look at it, it is normal to have such a situation here. It should be noted that the number is not small. It also left market participants eager to see how the market would react in the coming days. Considering the recent declines in the market, it is natural to criticize such a move. However, the variety of interpretations also points to the difference of colors on the market.
