TRON founder Justin Sun reportedly reinvested the large amount of SPK (Capital Markets Board) rewards he received from the Spark ecosystem back into the stock exchange.
Sun withdrew a total of 41.99 million SPK staking rewards from the Spark platform in the last two weeks. It has been suggested that all of these tokens, worth approximately $1.23 million, were subsequently transferred to the HTX exchange and may have been offered for sale on the secondary market.
According to the analysis, this latest transfer is part of a long-standing pattern of SPK (Capital Markets Board) token transactions by wallets linked to Justin Sun. Data shows that addresses associated with Sun have transferred approximately 610 million SPK tokens to centralized exchanges since September 2025. The total market value of these transfers is estimated to be around $19.08 million.
Market experts point out that sending large amounts of tokens to centralized exchanges can often create selling pressure. High-volume transfers, in particular, are interpreted by investors as a signal of potential profit taking. However, there is no official confirmation as to whether the transfers are definitively intended for selling purposes.
While Justin Sun and HTX have yet to make an official statement on the matter, on-chain activity is being closely monitored within the Spark community. The potential impact of the Capital Markets Board (SPK) decision on the token price is also being closely watched by investors.
Large wallet movements in the crypto market are often among the developments that increase short-term volatility. Transactions carried out by prominent figures in the sector, such as Justin Sun, can have a significant impact on investor psychology.
Experts say the impact of such transfers on the market will only become clear with subsequent transaction data and stock market flows.
*This is not investment advice.
