Justin Sun, founder of Tron, recently took over as advisor to the Huobi crypto exchange, has been spotted moving millions of USDT tokens. Data suggests that Sun has moved these millions of USDT, a stable amount, into its wallet amid increasingly volatile market conditions.

Is Justin Sun up to something new?

PeckShieldAlert reported that the address tagged as Justin Sun Has Withdrawn Over $100 Million worth USDT tokens from Aave Protocol V2 in multiple transactions. The transfer was made to address financed by poloniex.

Justin Sun is withdrawing $100 million USDT from the Aave Protocol V2 in 2 batches of $50 million each. Though it also mentioned that the founder of Tron has transferred $100k to TUSD to the same address which is funded by poloniex.

Meanwhile, Whale Alert reported that Justin Sun has moved more than $50 million worth of USDT from his marked wallet to an unknown wallet. This transaction was recorded just after the founder of Tron moved the USDTs from Aave.

The USDT in the Aave Protocol V2 pool TVL has fallen dramatically to $200 million following Sun’s withdrawal. However, Aave V2 TVL now stands at $4.07 billion.

However, Aave prices have increased by more than 4% in the last 24 hours. it trades at an average price of $77.03, at press time. Aave’s 24-hour trading volume is up 40% to $102 million.

Tron Chief takes over Huobi?

Earlier, the founder of Tron announced that he owns tens of millions of Huobi Tokens (HT). While he will boost the HT tokens as he officially took over the advisor of the Huobi crypto exchange. This led to an increase in HT price of more than 90% in recent weeks.

According to reports, 74 million Huobi tokens were transferred from Huobi’s two official wallets on Oct. 13. Although it is suggested that this accumulation may be part of an acquisition agreement between Huobi and Justin Sun.

Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email¬†protected]

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not responsible for your personal financial loss.





This post Justin Sun Raises Millions of USDT from Aave Pool

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