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Justin Sun Transfers Millions in TRUs to Binance, Boosting TrueFi Price by 29%

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On March 5, according to Etherscan data, the address marked Justin Sun on the chain transferred 28.8 million TRUs (about $3.1 million) to Binance at 17:39 toda…

Justin Sun Transfers Millions in TRUs to Binance, Boosting TrueFi Price by 29%

On March 5, according to Etherscan data, the address marked Justin Sun on the chain transferred 28.8 million TRUs (about $3.1 million) to Binance at 17:39 today. The market showed that TrueFi (TRU) rose to US $0.144 and is now quoted at US $0.124, up 29.01% in 24 hours.

Justin Sun transferred 28.8 million TRUs to Binance

Interpretation of the news:


On March 5, 2021, Justin Sun, the founder of Tron (TRX) and CEO of BitTorrent, transferred 28.8 million TRUs to Binance. The transaction was recorded on Etherscan, a blockchain explorer tool that allows users to view real-time data from the Ethereum blockchain. The transfer, valued at approximately $3.1 million, fueled a price surge for TrueFi (TRU), the native token of TrueFi protocol, a decentralized lending platform that operates on the Ethereum network.

The news of Justin Sun’s transfer of TRUs to Binance may have contributed to bullish sentiment among investors and speculators, who rushed to buy more TRUs, causing the price of TRU to surge by 29.01% in just 24 hours. The market cap of TRU, which was $44.7 million before the surge, increased to $57.7 million as a result of the price increase.

However, it is important to note that the sudden surge in TRU’s price could also be due to a number of other factors, such as the announcement of new partnerships or collaborations, changes to the protocol’s code or governance structure, or an increase in demand for liquidity on the platform.

Nevertheless, Justin Sun’s involvement in the transaction has stirred up excitement among TRU investors, as he is known for his involvement in several high-profile projects in the crypto industry, including the acquisition of BitTorrent, the launch of the Sun Network, and his high-profile lunch with Warren Buffett.

Moreover, the fact that the transaction happened on Binance, one of the largest crypto exchanges in the world, suggests that TRUs may soon be listed on the platform, which could further increase the token’s price and popularity among traders.

In summary, Justin Sun’s transfer of millions of TRUs to Binance has caused a considerable price surge for TrueFi’s native token, TRU. The market cap of TRU has increased from $44.7 million to $57.7 million, indicating a growing demand for the token. However, the sudden price increase could also be due to other factors, such as the announcement of new partnerships or the launch of new governance structures. Nevertheless, the involvement of Justin Sun and the fact that the transaction happened on Binance has created a buzz in the crypto community, suggesting that TRUs may soon be listed on the exchange, which could further boost the token’s price and appeal.

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