Krutika Adani
Speculations over an altcoin season spiked after Justin Sun transferred $21 million worth crypto to Binance exchange.
$11.26 million AAVE, $9.3 million MKR, $245k COMP, and $217k LQTY were among the top cryptos that were transferred by Sun.
The crypto community questioned the strategic move amid a market downturn which caused losses in all major cryptocurrencies.
The crypto community remained divided over the nature of these transferred and debated whether it was a profit booking move or one for portfolio rebalancing.
The crypto portfolio of Justin Sun has been estimated to be over $1 billion at least.