According to onchain data, there is activity in the wallets of Justin Sun, one of the most well-known and influential names in the cryptocurrency world.
The data shows that Sun transferred 500 Bitcoins (BTC) worth $30.3 million from his wallets to Binance, while he also transferred 513.4 BTC worth $31.2 million to a newly created cryptocurrency wallet.
Sun has moved 2,969 BTC, worth $164 million so far in 2024, to the HTX and Binance cryptocurrency exchanges at an average price of $55,185.
Notably, Justin Sun claims to be a strong supporter of Bitcoin, revealing towards the end of February that he held 28,614 BTC worth $1.74 billion in his wallet on his de facto cryptocurrency exchange HTX.
On the other hand, in July, it was reported that the German government wanted to buy BTC in order to alleviate its impact on the market after selling them heavily.
However, Justin Sun denied the allegations in his statement in July that he opened a long position when the BTC price was $69,000.
*This is not investment advice.