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TRON (TRX) founder Justin Sun is selling on four altcoins.
Justin Sun, generally known for his purchases, this time came to the fore with his sales transactions. According to data provided by the on-chain analysis platform Spot On Chain, Sun sold Aave (AAVE), Maker (MKR), Compound (COMP) and Liquity (LQTY) on June 10.
Data shows that Justin Sun transferred $11.2 million worth of AAVE, $9.3 million worth of MKR, $245 thousand worth of COMP and $217 thousand worth of LQTY to cryptocurrency exchange Binance.
Why is Justin Sun selling?
Sun, who has constantly purchased large amounts of altcoins in recent months and has tens of millions of dollars worth of altcoins in profit, is most likely selling profits against possible declines in the market.
Sun, who is cautious about the markets ahead of the inflation data coming from the USA on Wednesday and Thursday this week, may want to avoid the declines that may occur in case of bad data.
The US Consumer Price Index (CPI) and interest rate decision will be announced on Wednesday this week. Producer Price Index (PPI) data will be released on Thursday.
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