Justin Sun, whom we know as the CEO of the altcoin Tron in the cryptocurrency world, has been highlighting the whale feature lately. It draws attention especially with its cryptocurrency movements. Every move makes a splash in the cryptocurrency world. Now there is such a movement again. Let’s look at the details.
Altcoin movement from the address associated with Justin Sun
Arkham reported this important development on page X. Accordingly, Justin Sun has attracted attention with his altcoin movement in the past hours. Accordingly, a significant wstETH investment worth $110 million was made by an important address associated with Justin Sun. The injection of these funds into PrismaFi pools marks a significant move in the decentralized finance ecosystem. On the other hand, the numerical size also attracts attention.
The altcoin move is not limited to just this. Accordingly, this address, identified as 0x9FC, not only deposited a significant amount of money. It also minted over $60 million worth of mkUSD, a stablecoin. This represents a strong vote of confidence in the PrismaFi ecosystem.
There is also ownership of a significant portion of the supply.
When we look at Kriptokoin.com, another interesting situation emerges. There is ownership of a significant portion of the supply. This situation turns Justin Sun into a whale again. Currently, the 0x9FC address holds more than 60% of the total wstETH deposited on the PrismaFi platform. This concentration of assets demonstrates the influence Justin Sun and related organizations can have in the DeFi space. It also highlights the potential significance, making this development a matter of intense interest for the Bitcoin and altcoin community.
The development attracts attention as the Bitcoin and altcoin community follows Justin Sun’s altcoin movements closely. On the other hand, let us point out that the TRON founder has made similar moves before. Justin SUN and his company have significant investments on a sectoral basis. Additionally, their investments in altcoin projects attract attention when necessary.
Tron founder’s profitability attracts attention
It was announced last week that Justin Sun and his group made significant profits in the Bitcoin and altcoin world. Accordingly, the company announced that it reached a revenue of 98 million dollars in the third quarter. When we look at it on a sectoral basis, Justin Sun is getting returns on its investments.
Regarding the issue, Justin Sun pointed out that the BTC and altcoin industry had a difficult winter. The famous CEO also expressed his thoughts that this difficulty is now behind us. He stated that the stage we have reached now indicates a new bull season.