Is Justin Sun Trading New Meme Coins With $13.8M In ETH Withdrawn From Binance

A crypto wallet linked to Justin Sun has withdrawn $13.8 million worth of Ethereum (ETH) from Binance. Is the Tron founder buying new tokens on-chain?

PeckShieldAlert’s Tweet

Popular crypto Twitter handle @PeckShieldAlert account run by blockchain security company PeckShield spotted a 6,166 Ether transfer from Binance exchange to one of several wallets suspected to be related to Justin Sun.

View that wallet address, 0x9fcc67d7db763787bb1c7f3bc7f34d3c548c19fe, on DeBank here, currently holding $260 million in crypto assets.

Justin Sun’s Public Crypto Wallet

A second crypto wallet is known as Justin Sun’s ‘public address’ – 0x3ddfa8ec3052539b6c9549f12cea2c295cff5296.

View that wallet on DeBank here, currently holding $20 million in crypto assets.

Earlier this year the billionaire tweeted from @justinsuntron that he would begin to actively trade ‘meme coins and promising projects’ through that address.

Advertisements

‘Justin Sun 4’ Wallet Holds New Meme Coins

Another wallet, 0x176f3dab24a159341c0509bb36b833e7fdd0a132, has the public name tag ‘Justin Sun 4’ on Etherscan, also reported to be associated with the former Tron CEO.

Justin Sun wallet Etherscan

View that wallet on DeBank here, currently holding $500 million in crypto assets, including a significant portfolio of meme tokens.

The wallet currently holds many of the top meme coins by market capitalization:

  • $6 million in Shiba Inu (SHIB)
  • $800,000 in FLOKI (FLOKI)
  • $500,000 in Baby Doge Coin (BabyDoge)
  • $78,000 in Pepe (PEPE)

Then among newer, low cap meme coins, the Justin Sun 4 wallet also holds:

  • $300,000 in Toshi (TOSHI)
  • $61,000 in BabyPepe (BABYPEPE)
  • $44,000 in Sponge (SPONGE)
  • $27,000 in BOBO (BOBO)

Justin Sun wallet meme coins

The wallet’s holdings of Sponge have made headlines in some crypto media outlets, one of the top performers in December – up 74% in the past week.

Those 108 million tokens would make Justin Sun the 14th largest holder of Sponge ahead of its upcoming bridge to Sponge V2.

Sponge made headlines in NY Mag earlier this year with a close to 100x bull run on Uniswap.

Sponge price chart

Sponge price chart via DEXTools

Small amounts of many low market cap meme coins such as ALPACA, Oggy Inu, PepeAI, REKT, and others are also among the wallet’s holdings, suggesting the owner – if it is indeed Justin Sun – is bullish on meme coins heading into 2024.

Some sources speculate his 6,166 ETH withdrawal from Binance could potentially be with the aim to invest in new meme coins on decentralized exchanges or ICOs.

See our roundup of the best meme coins to buy heading into the New Year.

Advertisements
Advertisements
James Spillane

James began investing in cryptocurrency in 2017 and alongside his own trading journey also now aims to help others better navigate the markets as a crypto analyst, writer and editor. Currently James is helping to expand the library of cryptocurrency educational materials here on the site, as well as its tech related content. Prior to joining Techopedia as an administrator James also wrote news coverage of the iGaming industry and online poker guides at Rakeback.com. Hailing from Bedfordshire in the United Kingdom, James graduated from Imperial College London with a BSc in Physics.