Key Takeaways:
An address associated with Tron founder Justin Sun transferred assets worth $16.2 million to the HTX exchange, according to on-chain analyst @ai_9684xtpa.
"The deposit included five types of tokens, with the most notable being recently airdropped assets from restaking projects," the on-chain monitoring account @ai_9684xtpa posted on X.
The bulk of the transfer consisted of $13.45 million in stablecoins, including USDT, USDC, and USDD, alongside $2.53 million of Tron’s native TRX token. The wallet also moved smaller, but significant, amounts of recently launched tokens from Friend.tech (FF), Kernel (KERNEL), and Lit Protocol (LIT).
This action suggests a strategy of cashing out rewards from the burgeoning restaking and airdrop meta, potentially creating immediate sell-side pressure on the FF, KERNEL, and LIT tokens. The move by such a high-profile market participant could also influence broader sentiment around the profitability and sustainability of airdrop farming from similar DeFi protocols on Ethereum.
This article is for informational purposes only and does not constitute investment advice.
