1. Aiwaka AdventuresHome
  2. Blockchain Briefs

Justin Sun Transfers Millions in TRUs to Binance for Market Impact

• Blockchain Briefs • 97 views

On March 5, according to Etherscan data, the address marked Justin Sun on the chain transferred 28.8 million TRUs (about $3.1 million) to Binance at 17:39 today

Justin Sun Transfers Millions in TRUs to Binance for Market Impact

On March 5, according to Etherscan data, the address marked Justin Sun on the chain transferred 28.8 million TRUs (about $3.1 million) to Binance at 17:39 today. The market showed that TrueFi (TRU) rose to US $0.144 and is now quoted at US $0.124, up 29.01% in 24 hours.

Justin Sun transferred 28.8 million TRUs to Binance

Analysis based on this information:


It has been reported that Justin Sun, the founder of Tron, transferred 28.8 million TRUs (TrueFi Utility Tokens) to Binance, a popular cryptocurrency exchange. This transaction could have a significant impact on the market, especially since the price of TRU rose by 29.01% within 24 hours after the transfer was completed.

According to Etherscan data, the transfer took place on March 5. The transfer was marked with the name of Justin Sun, which means that it was likely initiated by him. The amount of TRUs transferred was worth approximately $3.1 million. This indicates that Sun has a substantial amount of TRUs, and his actions could influence market trends.

The TRU cryptocurrency is a governance token for the TrueFi platform, which is an uncollateralized lending protocol built on the Ethereum blockchain. TrueFi aims to provide transparent and efficient lending services to borrowers and lenders. The platform uses TRUs to stabilize the value of loans, incentivize users to participate in governance decisions, and reward early adopters.

The rise in the price of TRU after the transfer could be attributed to several factors. First, the transfer itself could have created a sense of urgency among investors who wanted to get in on the action. Second, the transfer may have signaled Sun’s support for TRU and TrueFi, which could have bolstered investor confidence. Finally, the transfer may have sparked speculation about future developments or partnerships involving TRU and Binance.

In summary, Justin Sun’s transfer of 28.8 million TRUs to Binance has caused a 29.01% increase in the price of TRU within 24 hours. This transfer highlights Sun’s influence in the cryptocurrency world and may indicate his support for the TrueFi platform. The market impact of this transfer remains to be seen, but it is clear that TRU is a cryptocurrency to watch in the coming days and weeks.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/05/justin-sun-transfers-millions-in-trus-to-binance-for-market-impact/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/05/2023 09:54
Next 03/05/2023 10:29

Recommended articles