The price of AAVE, the altcoin of Aave, a decentralized lending platform, experienced a huge increase yesterday, reaching up to $ 77.
This rise was supported by whales buying large amounts of AAVE from exchanges. However, AAVE, which started the day with a decrease, has already dropped to $ 65.
While there was movement in the AAVE price, another movement was experienced on the front of Tron (TRX) founder Justin Sun.
Popular cryptocurrency platform Lookonchain said that Justin Sun recently invested 11,910 AAVE (worth $776,000) on cryptocurrency exchange Huobi.
Lookonchain added that Justin Sun made AAVE transfers to Binance in previous years.
“Justin Sun deposited all 11,910 AAVE (worth $776,000) 20 minutes ago in Huobi.
Justin Sun deposited 49,000 AAVE (worth $16 million) in Binance on October 27, 2021, when the price was $327.
Again, Justin Sun deposited 59,500 AAVE (worth $8.8 million) in Binance on January 28, 2022, when the price was $148.”
Justin Sun deposited all 11,910 $AAVE($776K) into #Huobi 20 mins ago.
Justin Sun deposited 49K $AAVE ($16M) to #Binance on Oct 27, 2021, when the price was $327.
And deposited 59.5K $AAVE ($8.8M) to #Binance on Jan 28, 2022, when the price was $148.https://t.co/1sGx4VBArR pic.twitter.com/mO9u9bTlzP
— Lookonchain (@lookonchain) June 26, 2023
This transfer of the founder of Tron, who made a name for himself with his crypto money transfers, was interpreted as “preparing to sell AAVE”. In this context, we will be following whether Justin Sun will sell or not.
*Not investment advice.
