In a surprising move that has captivated the cryptocurrency community, Justin Sun, the founder of Tron, has sparked intrigue by executing a withdrawal of $13.8 million worth of Ethereum (ETH) from Binance. The transaction, highlighted by blockchain security company PeckShieldAlert in a tweet, raised suspicions and triggered concerns within the crypto space.
The tweet pointed out that the address 0x9FCc…19Fe initiated a withdrawal of 6,166 ETH (equivalent to approximately $13.8 million) from Binance, describing it as “Suspicious Justin Sun related.” This notation has led to widespread speculation about the motives behind such a substantial withdrawal, leaving the crypto community questioning the intentions behind this move.
As of the latest market data, Ethereum is priced at $2,239, reflecting a 1.55% decrease in the last 24 hours. However, over the past 30 days, the cryptocurrency has experienced a notable gain of 7.22%. Despite recent market fluctuations, Ethereum’s trading volume has surged by over 14.89% in the last 24 hours, totaling $9,184,315,852.
This development follows Justin Sun’s previous noteworthy withdrawals, where he withdrew massive amounts of Shiba Inu (SHIB) tokens from Binance. The first withdrawal involved an astounding 500 billion SHIB tokens, followed by another withdrawal of approximately 77 billion SHIB tokens. These transactions had already raised questions within the crypto community, prompting discussions about Sun’s strategic moves in the market.
Adding to the intrigue, on May 11, Justin Sun declared his decision to actively engage in trading meme coins and promising projects through his public address. This declaration indicated a shift in Sun’s investment strategy, opting for more speculative and meme-driven digital assets.
The latest Ethereum withdrawal only adds to the growing concerns and speculations surrounding Justin Sun’s cryptocurrency activities. The crypto community is closely monitoring further statements or actions from Sun that may provide clarity on his motives and intentions behind these significant transactions.
