April

Currently, the overall cryptocurrency market is struggling to gain momentum. Top cryptocurrencies like Bitcoin, Ethereum, and others are experiencing massive downside pressure. On April 17, 2024, Lookonchain, an on-chain analytics firm, shared a post on X (formerly Twitter) regarding a significant move made by Justin Sun, the founder and advisor of TRON and HTX. Sun withdrew a massive 196 million USDT from HTX, as reported by Lookonchain.
Justin Sun withdrew 196M Justin Sun deposit $196 million to Binance 
This massive withdrawal and deposit of USDT occurred just before the Bitcoin halving, indicating a possibility that Sun is just a step away from a big purchase. Earlier, on January 21, 2024, following the approval of a spot Bitcoin ETF in the United States, Sun withdrew a massive $60 million worth of ETH, AAVE, SHIB, LINK, MANA, FLOKI, and others. However, after this withdrawal, these tokens massively soared, and Sun possibly made a huge profit.
However, the massive $196 million USDT deposit on Binance might also be for some purchases, as the overall cryptocurrency market is experiencing a significant price fall, and Sun might take this as an opportunity. Analysis of top cryptocurrencies 
Looking at the top cryptocurrencies, Bitcoin is 13% down from its all-time high, Ethereum is nearly 40% down from its all-time high, Binance Coin is 21% down from its all-time high, and Solana is 46% down from its all-time high. Earlier, there was an expectation that the overall cryptocurrency market would massively soar pre-halving. However, due to unexpected United States CPI (Consumer Price Index) data and the recent conflict between Iran and Israel, the whole prediction failed.
The research firm 10x Research, which predicted Bitcoin’s low in 2022 and also predicted a record surge in the price of cryptocurrencies before halving, has turned bearish. On April 15, 2024, the research firm published a report named “<a href="https://news.todayq.com/10x-report-we-sold-everything-last-night-whats-in-it/" rel="noopener noreferrer nofollow">We sold everything last night.</a>”
In this ongoing struggling cryptocurrency market, investors as well as traders are also less likely to participate due to the confusion in the market. But this time, Justin Sun’s $196 million USDT deposit might create some waves in this market, which is struggling to gain momentum

Justin Sun pulls off $196M USDT from HTX, What’s the motive?

Todayq News

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