Tron (TRX) founder Justin Sun sold a significant number of Curve (CRV) DyDx (DYDX) and Galxe (GAL) tokens, after holding them for more than half a year.
Data collected from on-chain analytics platform Arkham Intelligence shows that on Jan. 23, Sun moved onto exchanges and sold a sizeable number of tokens. Those transactions included more than 821,700 CRVs (worth $894,000) deposited and sold on Binance, the world’s leading cryptocurrency exchange, and more than 19,500 GALs (worth more than $38,500) transferred to Binance and sold.
Justin Sun takes a hit
Lastly, the most notable transaction was 892,700 DYDX (worth $1.62 million) deposited on Binance that has not yet moved to the exchange’s wallets, suggesting that it is likely still credited to Sun’s Binance account. . So, more than $2,552,000 was deposited on Binance, with $932,500 confirmed sold as of press time.
Looking at Sun’s transactions involving CRV, we can see that he moved 763,000 CRV into his account from the DeFi platform intended to increase CRV rewards Convex Finance and an unknown address just a week ago, representing the most of the CRV sold.
Eight months ago, Sun also received its initial deposit from Convex Finance for nearly 21,800 CRV, worth nearly $30,000 at the time, but just $23,640 at press time, down 37.6%.
GAL transactions from the wallets involved similarly show that when Sun received most of them eight months ago in a 16,000 GAL transaction from the Gnosis protocol, they were worth $273,000. At 19,500 GAL, they were only worth $38,500.
Sun’s transactions involving DYDX show that in transactions processed seven and eight months ago, it received a total of 892,000 DYDX from chain distributor DYDX. When those tokens were received, almost all of which had already been sent to Binance, they were worth nearly $2.6 million, more than all the assets it moved to Binance today.
The development follows recent reports that Sun has moved over $281 million worth of tokens since then in just a couple of days. Furthermore, Sun was among the entities that recently received transfers from the administrators of the alleged FTX 2.0 scam token.
