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Justin Sun Moves $4.3M of MakerDAO's Tokens to Binance: Blockchain Data

Crypto investor and Tron network founder Justin Sun transferred $4.3 million worth of MakerDAO’s maker (MKR) tokens to crypto exchange Binance early Tuesday. When investors send tokens to an exchange, it often suggests they plan to sell. Blockchain data by Arkham Intelligence show that a wallet linked to Justin Sun sent 6,802 MKR tokens to a Binance account through an intermediary wallet. The spot market of MKR is thin and illiquid, meaning that a large sell order can significantly move the token price. MKR is the governance token of MakerDAO, one of the largest decentralized finance (DeFi) protocols and issuer of the $4.7 billion DAI stablecoin.

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