Justin Sun Sends $3 Million Altcoin to Binance Exchange

The creator of Tron, Justin Sun, has deposited several millions of dollars of BNB on Binance, which is the world’s biggest cryptocurrency exchange.

Per information provided by blockchain platform Arkham Intelligence, Justin Sun’s address sent 5,000 BNB valued at $3.07 million to the exchange Binance.

The transaction by Justin Sun initiated speculation among the crypto community. BNB holders on Binance can use their BNB through the Binance Launchpool to earn new cryptos before they are listed in some procedures.

The exchange announced late last week that Renzo (REZ) would be introduced as the 53rd Launchpool, with the users able to earn REZ during 6 days, starting on April 24 by staking BNB and FDUSD.

Moreover, Sun has been observed acquiring larger Ethereum (ETH) volumes recently. Lookonchain reported that Sun, who purchased 21,547 Ethereum last night, has purchased a total of 176,117 Ethereum ($559 million) since April 8.