Justin Sun has moved again, this time targeting the RWA sector where BlackRock holds a large position.

$21 million in DeFi tokens (including AAVE) have been deposited to Binance

On-chain analysis company Spotonchain revealed that a dormant whale deposited about $13 million worth of cryptocurrencies to Binance on Monday morning. After a year-long hiatus, the whale transferred 3,800 Maker (MKR) and 20,000 Aave (AAVE) to the exchange.

Further analysis suggests that these transfers may be related to Justin Sun, and three of the thirteen identified addresses executed these transactions.

The whale acquired MKR tokens in June 2023 for $2.43 million, an average price of $641.81 per share, while AAVE tokens were purchased between June 2023 and January 2024 at an average price of $87.14.

Market performance after the transfer:

The community closely follows Sun's transactions. Historical data shows that Sun accumulated a large amount of Ethereum in the first quarter of 2024, totaling more than $891 million in ETH.

After the announcement, the price of deposited DeFi tokens had a limited reaction. AAVE prices fell slightly by 1.4% to $91.26, and then rebounded to $92. However, the token had previously fallen by 12.4% after the market crash.

MKR fell 10.6% over the weekend, from $2,600 to $2,300. In the following 24 hours, MKR fell another 3.1%. Although MKR briefly fell 1.8% after the news, it is still below $2,400.

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