A large whale address, which previously offloaded significant amounts of SUN, has sold another $1 million worth of the token within the past two hours.
A large whale address, known for its previous sales of significant amounts of SUN, has recently sold another $1 million worth of the token over the past two hours.
This latest sale caused a nearly 3% decrease in the price of SUN, bringing it down to $0.02461.
The address, which has been linked to major sales in the past, continues to influence the market, sparking concern among investors.
However, it’s important to note that this address has been the subject of speculation, with some suggesting that it belongs to Justin Sun, the founder of the TRON network.
Sun himself has clarified that this wallet does not belong to him.
Despite this clarification, the whale's previous sales have had a significant impact on SUN’s price.
Since the last time this address sold SUN, the token has plunged 32%, dropping from $0.03633 to the current level of $0.02461.
Same Address Sold Off $1.18 Million Worth Of SUN
On August 25, the same address sold $1.18 million worth of SUN on the blockchain, as reported by cryptoSlate.
The following day, another $1.68 million worth of tokens were sold from the same wallet.
These heavy sales have applied downward pressure on the token, reflecting the market’s sensitivity to large movements by whale addresses.
As traders watch closely for any future moves by this address, the massive sell-off has sparked a wave of uncertainty among SUN investors.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: burdyak/123RF // Image Effects by Colorcinch
The above is the detailed content of Whale Address Continues to Dump SUN, Sparking Concern Among Investors. For more information, please follow other related articles on the PHP Chinese website!
Mark Cuban Calls California Plan to Digitize 42 Million Car Titles Using Blockchain 'Amazing Step Forward' for CryptoAug 01, 2024 pm 09:16 PMThe bitcoin price has surged to over its previous all-time high in recent months, topping $70,000 per bitcoin and sparking a wave of mega-bullish bitcoin price predictions
Internet Computer (ICP) Investors Seek Other Options as BlockDAG (BDAG) Coin Gains TractionSep 04, 2024 am 03:33 AMDespite its strong technology, Internet Computer (ICP) is testing the patience of some investors due to its slow progress. Uniswap (UNI) isn’t having an easy time either.
Whale Address Continues to Dump SUN, Sparking Concern Among InvestorsSep 13, 2024 pm 09:11 PMA large whale address, which previously offloaded significant amounts of SUN, has sold another $1 million worth of the token within the past two hours.
Telegram Meme Coins Threaten to Break Ton NetworkAug 29, 2024 pm 09:56 PMTelegram meme coins have been in the spotlight for a while due to the overly successful mini-Apps technology on the messaging platform.
Binance Futures Adds POPCAT and SUN USDⓈ-Margined Perpetual ContractsAug 23, 2024 am 12:09 AMBinance Futures has announced the introduction of two new USDⓈ-Margined perpetual contracts featuring POPCAT and SUN tokens.
Baby Doge, SUN Soar as Meme Coins Join Broader Crypto Market UpswingSep 19, 2024 pm 09:35 PMMost meme coins reflected gains on Thursday, joining Bitcoin (BTC) and Ether (ETH) in posting significant increases.
Compound (COMP) Price Drops 6% as 'Golden Boys' Group Launches 'Governance Attack' on the ProtocolJul 29, 2024 pm 06:06 PMCompound, one of the leading lending platforms in the altcoin world, has been seriously shaken by recent developments. The platform's native token COMP has lost more than 6% of its value following recent developments.
XRP Whales Accumulate 26 Million Tokens as Exchange Reserves Drop, Signaling Potential RallyAug 08, 2024 am 12:01 AMBlockchain tracking service Whale Alert reported a major transfer of over 26 million XRP from the Binance exchange to an unknown wallet.
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
AI Hentai Generator
Generate AI Hentai for free.
Hot Article
Hot Tools
SublimeText3 Mac version
God-level code editing software (SublimeText3)
MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.
MinGW - Minimalist GNU for Windows
This project is in the process of being migrated to osdn.net/projects/mingw, you can continue to follow us there. MinGW: A native Windows port of the GNU Compiler Collection (GCC), freely distributable import libraries and header files for building native Windows applications; includes extensions to the MSVC runtime to support C99 functionality. All MinGW software can run on 64-bit Windows platforms.
WebStorm Mac version
Useful JavaScript development tools
Safe Exam Browser
Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.
