In the current bearish market sentiment, cryptocurrency investors are actively involved in either accumulating or disposing of their holdings. Notably, during the Asian trading hours, an on-chain analysis firm named Spotonchain drew attention to a significant event. They reported that a dormant whale made a massive sell-off, transferring 3,800 Maker (MKR) tokens valued at $9.3 million and 20,000 Aave (AAVE) tokens worth $4.45 million to the renowned Binance exchange.

Subsequently, further investigation by Spotonchain revealed that the dormant whale behind this substantial transaction was none other than the prominent figure in the crypto space, Justin Sun, associated with HTX and Tron (TRX). The disclosed data indicated that Justin Sun executed a substantial transaction amounting to $21 million, which included 94,000 AAVE tokens valued at $11.26 million, 3,800 MKR tokens worth $9.3 million, 4,170 Compound (COMP) tokens totaling $245,000, and 203,600 Liquity (LQTY) tokens worth $217,000 within the last hour. This sizable move would enable Justin Sun to realize substantial profits, estimated at $6.86 million from MKR with an impressive 281% increase and $645,000 from AAVE, reflecting a 17% gain. Such strategic maneuvers underscore the potential for significant returns in the volatile cryptocurrency market, especially through well-timed deposits and sales.

The massive deposits initiated by Justin Sun could potentially serve as a selling signal for these four assets. However, amidst an overall decline in cryptocurrency prices over the past few days, the $21 million asset deposit by Sun has stirred concerns within the cryptocurrency industry.

An assessment of the impact of this deposit on the prices of the mentioned assets reveals that as of now, AAVE has witnessed a 1.5% decline, while MKR and COMP have maintained stability. On the other hand, LQTY experienced a 3% decrease. This suggests that the deposit by Sun did not have a significant immediate impact on the market prices of these assets.

Apart from Sun's substantial transaction, recent observations have indicated a trend where crypto whales are actively acquiring tokens such as Uniswap (UNI), Pepe (PEPE), and Shiba Inu (SHIB) as reported by Todayq News on June 10, 2024.

Despite the prevailing bearish sentiment in the cryptocurrency market, stability is apparent among major cryptocurrencies in the past 24 hours. Leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) have not exhibited any considerable downward movement. Additionally, data from Coinglass for the past 24 hours indicates a minor liquidation amounting to $65.06 million, with 38,319 traders liquidating their positions, and the most substantial liquidation event occurring on Bitmex.