Recent on-chain data shows that a blockchain wallet associated with the Tron founder has withdrawn a substantial amount of TRX from Binance.
Onchain Lens drew public attention to the activity in a tweet, citing data from Arkham Intelligence. According to the report, the Justin Sun–linked wallet withdrew 100 million TRX, worth $27.96 million, from Binance earlier today.
In addition, the same wallet received $5 million in USDT from the exchange. Notably, both transactions occurred just a single minute apart, underscoring their coordinated nature.
The transfers, especially the 100 million TRX withdrawal, have drawn widespread market attention, with some observers suggesting that the move signals strategic accumulation and a shift toward long-term holding.
Consistent Accumulation of TRX from Exchanges
Prior to the latest transaction, the wallet had already been accumulating significant amounts of TRX over the past few days. For example, on November 29, it received 34.76 million TRX from the Tron-based decentralized exchange SunSwap, followed shortly by another 86.77 million TRX from the same platform.
With the newest withdrawals included, the recipient wallet now holds approximately 492.01 million TRX, valued at $137.81 million at press time. This positions TRX as the portfolio’s second-largest asset by dollar value, behind only STRX, which totals 582.87 million tokens worth $199.01 million.
In another wallet valued at $1.72 billion, the Tron founder holds 1.84 billion TRX, worth roughly $516.47 million, making it the most valuable asset in that portfolio. This address has also received substantial TRX inflows from SunSwap over the past few days, further reinforcing the pattern of ongoing accumulation.
TRX Trails Bitcoin and Ethereum in Broader Market Rally
As the broader crypto market enjoyed a relief rally led by Bitcoin today, TRX has yet to benefit significantly from the bullish trend. The token has remained relatively stagnant over the past few days, trading within a tight range of $0.27 to $0.28.
At press time, TRX traded at $0.2801, marking a modest 0.66% increase over the past 24 hours. Meanwhile, during this period, Bitcoin surged by 6.48% and Ethereum rose by 8.84%.
However, TRX also maintains a modest weekly gain of 1.85%, though it remains down 4.23% over the past month. Nonetheless, it continues to rank as the eighth-largest token by market cap, with a valuation of $26.51 billion.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
