A whale wallet traced back to Tron founder Justin Sun deposited $21 million in four cryptocurrencies to Binance on Monday, according to data from on-chain intelligence tracker Spotonchain.
Justin Sun is linked to the dormant whale wallet that deposited on Monday $21 million in AAVE , MKR, COMP and LQTY on Binance. On-chain tracker Spotonchain notes that Sun could take nearly $7 million in profits if he opted to sell the tokens. MKR and AAVE prices lost 2% and 1.5% on the day, respectively. Maker and Aave are the main assets deposited by the Tron founder, who could get a profit of nearly $7 million if he opts to sell its holdings.
Justin Sun’s $21 million crypto token deposit to Binance MKR and AAVE on-chain metrics support bearish thesis Santiment data shows that MKR and AAVE’s supply on exchanges has climbed in the last ten days. MKR supply on exchanges increased by 6.9%, to 118.14K tokens from 111.24K, while AAVE supply increased by 3.5% in the same time frame to 3.18 million from 3.07 million. Supply on exchanges is a metric used to determine selling pressure on an asset.
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