Ethereum Rains from Justin Sun's Exchange to Binance: $500 Million Sale!

A total of 518 million dollars worth of 160,600 Ethereum (ETH) was transferred from HTX, the cryptocurrency exchange in which Justin Sun is a shareholder, to Binance in the last week.

According to data shared by Chinese blockchain analyst EmberCN, in the transfer that took place today, the HTX Recovery wallet first retrieved 50,600 ETH from the decentralized finance (DeFi) platform Aave. Then, these assets were sent first to the HTX hot wallet, and later to Binance. In just this last transaction, approximately 181 million dollars worth of Ethereum was transferred.

The total amount of transfers carried out in the same manner throughout the past week reached 160,600 ETH, which corresponds to more than half a billion dollars.

Movements towards Binance are increasing

This activity, which has caught the attention of the cryptocurrency community, has become a topic of curiosity in the markets. The consecutive Ethereum transfers are being interpreted as preparations for Sun's trading strategies on Binance or potential institutional collaborations. The reasons for the transfers have not yet been officially explained.