Tron Founder Justin Sun Makes Big Bet On Curve Finance, Purchases $2.9M Worth Of CRV
Portfolio Pulse from Murtuza Merchant
Justin Sun, the founder of TRON (CRYPTO: TRX), has purchased approximately $2.9 million worth of Curve (CRYPTO: CRV) tokens from Michael Egorov, the founder of Curve Finance. The transaction was confirmed by blockchain security company PeckShield and blockchain data analytics platform Lookonchain. Sun withdrew two million Tether (CRYPTO: USDT) from AAVE (CRYPTO: AAVE) and transferred them to Egorov, who in return transferred around five million CRV to Sun.
August 04, 2023 | 9:27 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The use of Tether in the transaction between Justin Sun and Michael Egorov could potentially increase the visibility and usage of USDT.
The use of Tether in the transaction between Justin Sun and Michael Egorov could potentially increase the visibility and usage of USDT. However, as USDT is a stablecoin, this is unlikely to have a significant impact on its price.
CONFIDENCE 60
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The purchase of Curve tokens by Justin Sun could potentially increase demand for CRV, despite recent market volatility and negative funding rates.
Despite recent market volatility and negative funding rates, Justin Sun's purchase of Curve tokens could potentially increase demand for CRV. This could lead to a short-term increase in the price of CRV.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
TRON's founder Justin Sun's purchase of Curve tokens could potentially increase interest in TRON and its associated projects.
Justin Sun's purchase of Curve tokens could potentially increase interest in TRON and its associated projects, as it shows Sun's active involvement in the crypto market. This could lead to increased demand for TRX, potentially driving its price up in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80