TRON

<ul class="wp-block-list news-points"> 
 <li><strong>TRON founder Justin Sun denies rumors of platform liquidation.</strong></li> 
 <li><strong>Sun’s $110 million USDT transfer is likely for buying Ethereum (ETH).</strong></li> 
 <li><strong>TRON prioritizes staking and liquidity provision over leveraged trading.</strong></li> 
</ul> 
<p>Reports spotted Justin Sun <a href="https://www.binance.com/en/square/post/11683919771889" target="_blank" rel="nofollow">moving about 110 million USDT</a> to the cryptocurrency exchange HTX, potentially to purchase Ether (ETH) at its current bearish price. As of press time, <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="nofollow">ETH was valued at</a> $2,348, marking a decline of around 19% over the last 24 hours.</p> 
<p>Founder of the TRON blockchain ecosystem, Justin Sun, also dispelled rumors of the platform’s position liquidation on X (formerly Twitter). In an August 5th post, Sun asserted that TRON rarely engages in leveraged trading strategies.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The rumors about our positions being liquidated are false. We rarely engage in leveraged trading strategies because we believe such trades do not significantly benefit the industry. Instead, we prefer to engage in activities that provide greater support to the industry and…</p>— H.E. Justin Sun 孙宇晨 (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1820329108494320116?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">August 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The TRON founder’s dismissal of the claims aligns with the platform’s trading strategies, which typically shun leveraged trading. TRON…</p>
<p>The post <a href="https://coinedition.com/trons-justin-sun-110m-usdt-move-explained/">TRON’s Justin Sun: $110M USDT Move Explained</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

TRON’s Justin Sun: $110M USDT Move Explained

Coin Edition

Other articles published on Aug 5, 2024

Thousands Of Australian Crypto Wallets Compromised By Scammers

Bitcoin Price Drops Sharply in 24 Hours

Russia Advances Crypto and Mining Regulations as US Sanctions Impact Economy

New Bill to Expand U.S Secret Service Crypto Crime Powers

JUST IN: Allegedly About to Launch Payment System on Twitter (X)

Solana Targeting $320; Rollblock Revenue Share Model Steals Crypto Limelight, DOT Looking for Sup...

Join our free newsletter for daily crypto updates!