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Tron Founder's Profits from Crypto Trades

Jun 10, 2024

According to reports, the founder and chief executive of Tron, Justin Sun, generated a profit exceeding $24.9 million by trading digital assets he had held for more than a year. Insights from the on-chain analytics platform Spot On Chain revealed that a wallet associated with Sun transferred $21 million worth of digital assets to a Binance exchange within a half-hour interval, comprising 3,800 $MKR tokens valued at $9.3 million, 203,634 $LQTY worth $217,000, 93,979 $AAVE amounting to over $11.26 million, and 4,178 COMP tokens totaling $245,000. Sun's profit from $MKR deposits reached $6.86 million, showcasing a remarkable 281% increase, while his earnings from $AAVE holdings amounted to $645,000, a growth of 17% post-sale. Spot On Chain previously highlighted these transactions in a June 10 post, underscoring significant growth in the deposited crypto assets, especially focusing on an 'anonymous crypto whale' depositing $13.75 million worth of $MKR tokens and $AAVE coins. Crypto whales like Sun leverage market fluctuations, buying assets at low prices for later profitable sales. The platform specializes in monitoring such large transactions, shedding light on notable movements in the crypto space.

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