Tron’s founder and chief executive, Justin Sun, reportedly made over $24.9 million in profit after trading some digital assets he had held for over one year.
According to the on-chain analytics platform Spot On Chain, a wallet linked to Sun deposited $21 million worth of digital assets into a Binance exchange within a span of thirty minutes. The deposit included:
- 3,800 $MKR tokens ($9.3 million)
- 203,634 $LQTY ($217,000)
- 93,979 $AAVE (over $11.26 million)
- 4,178 COMP ($245,000)
Sun reportedly made a $6.86 million profit from his $MKR deposit, a 281% increase, and a $645,000 profit from his $AAVE holdings, a 17% growth since the deposit when he sold these tokens.
Spot On Chain initially highlighted these transactions in an earlier post on June 10, noting significant growth in the deposited crypto assets. In that post, the platform mentioned that an “anonymous crypto whale’s” wallet had deposited 3,800 $MKR tokens ($9.3 million) and 20,000 $AAVE coins ($4.45 million), totalling $13.75 million.
Crypto whales, such as the Sun, often capitalize on market fluctuations, buying assets at low prices and selling them at a profit when their values rise. Spot On Chain specializes in tracking these large transactions.
Earlier last week, the on-chain analytics platform tracked another significant transaction involving an anonymous whale trader who started reaccumulating popular memecoin $SHIB after bagging $145 million in profits two years ago. According to the platform, wallets connected to the whale now hold almost 1 trillion $SHIBs and about 9,207 $ETH and $WETH (~$24.9 million), which might be used to purchase more of the memecoin. Reportedly, the crypto whale recently swapped 4,849 $WETG (worth around $18.5 million) for 715.8 billion $SHIBs
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