Crypto whale, believed to be Justin Sun - founder of #tron makes a massive transfer of $21 million worth of DeFi tokens to Binance!.
Specifically, the transfer includes 93,979 AAVE tokens worth about 11.26 million USD and 3,800 MKR tokens. These addresses purchased MKR tokens in June 2023 at an average price of 641.81 USD/token and AAVE tokens from June 2023 to January 2024 at an average price of 87.14 USD/token. At press time, this crypto whale has approximately $7 million in estimated profits, with $6.74 million from MKR and $252,000 from AAVE.
The market reaction to this event was quite cautious, with a slight decrease in AAVE and MKR after the transfer information. This shows that, despite concerns about a possible sell-off, the market remained stable and there were no major price movements following the event.
Such developments often cause speculation about the strategies and next actions of crypto whales, especially when they involve influential industry figures like Justin Sun. Large transfers of tokens to exchanges are often seen as a sign of preparations for a sale, which can create downward pressure on the token's price if large quantities are sold on the market.
However, it is important that investors should always perform thorough research and not rely entirely on whale movements to make their investment decisions.