TRON Founder Sold AAVE and Those 3 Altcoins: Here’s His Profit!

TRON (TRX) founder Justin Sun has recently attracted attention with his buying and selling moves in the cryptocurrency markets. Sun, which made a profit of $24.9 million by selling 4 altcoins last week, surprised the markets with a new investment of $21 million this week. These attacks reveal Sun’s perspective on cryptocurrencies and his investment strategy.

Tron founder Justin Sun sold 4 altcoins

TRON (TRX) founder Justin Sun has recently attracted attention with his buying and selling moves in the cryptocurrency markets. Last week, on June 10, Aave (AAVE), Maker (MKR), Compound (COMP) and Liquity (LQTY) sold 4 altcoins, making a total profit of $24.9 million. These sales were interpreted as Sun taking precautions against a possible decline in the market and trying to protect its profits.

However, just 2 days after this sale, Justin Sun surprised the markets by making a new investment of $ 21 million. According to data from Spot On Chain, an address thought to belong to Sun transferred a large amount of AAVE, MKR, COMP and LQTY to Binance. According to Arkham Intelligence information, Justin Sun’s total cryptocurrency assets reach 1.08 billion dollars. This portfolio includes main currencies such as Bitcoin (BTC) and Ethereum (ETH), as well as various altcoins such as USDC, TRX, BTT and SHIB.

Why did Sun sell?

Although the exact reason behind Justin Sun selling 4 altcoins is unknown, some possibilities could be:

• Taking precautions against a possible decline in the market:Sharp declines and increasing uncertainty in recent months may have pushed Sun to defend its profits.
• Turning to different investments:Sun may be planning to invest his profits in other cryptocurrencies or different asset classes.
• Liquidity requirement:Sun may have made these sales to raise funds for other investments.

In conclusion, Justin Sun’s new $21 million investment demonstrates his long-term plans. This investment shows that Sun is not affected by market declines and is optimistic about the future. Justin Sun’s latest buying and selling spurts show the volatility in cryptocurrency markets and how investors are adopting different strategies. The diversity of Sun’s portfolio and long-term investment plan can be interpreted as an indication of his interest and belief in cryptocurrency markets.

Who is Justin Sun?

Justin Sun is an entrepreneur, diplomat and businessman of Chinese origin. He is best known as the founder of TRON, the blockchain DAO ecosystem. He was named CNTV’s most notable new entrepreneur in 2015 and was listed in Forbes China 30 Under 30 from 2015 to 2017. He founded TRON in 2017 and quickly gained an important place in the cryptocurrency markets. In 2021, he was appointed as Grenada’s Permanent Representative to the World Trade Organization (WTO). He resigned as Grenada’s Permanent Representative to the WTO in 2023. Sun is known as one of the most active investors in the cryptocurrency markets. In addition to mainstream currencies such as Bitcoin and Ethereum, it has also invested in many altcoins such as Aave, Maker, Compound and Liquity.