"Damn, why is Justin Sun acting like this? Don't you have any money?"
Justin Sun, founder of Tron and advisor to HTX unwittingly withdrew a whopping $60 million in digital assets from Binance raising expectations among cryptocurrency market participants.
By observation, the production includes 17,433 Ethereum (ETH) worth $43 million, 66,999 AAVE $6.7 million, 656.4 billion Shiba Inu (SHIB) $6.3 million, 61,249 Chainlink (LINK) $957,000, 27.16 billion Floki Inu (FLOKI) $885,000, 1.7 million Decentraland ( MANA) $826,000 and 100,100 BAND costs $168,000.
Because Sun has issued SHIB from Binance in a relatively large amount, the effect of the large volume withdrawal on the altcoin price can still be seen until now.
It is well known that large volume withdrawals occur as the altcoin season ends in a continuous cycle, where Bitcoin (BTC) and ETH prices have declined in the past week while the Alt season index is in low momentum on January 21, 2024.
Like to be informed that the accumulation of altcoins by large wallet holders such as Sun can reduce the selling pressure on digital assets and thus pave the way for the price to recover or see an increase in the short term.
On the other hand, crypto exchanges HTX and HTX DAO have restored their services after a 15-minute outage in broadcasting on account X after being hit by a distributed denial-of-service (DDoS) attack that occurred last Friday.
DDoS attacks are designed to force an online service offline, by flooding it with so many requests, consuming its capacity that it cannot respond to legitimate requests.
