In an interesting turn of events, Justin Sun, the mastermind behind Tron, has once again thrown the crypto world into a frenzy with a significant Shiba Inu withdrawal.
This move adds yet another layer of mystique to his surroundings. Meanwhile, the GFOX presale is quickly approaching the $ 2 million mark.
Tron Founder Moves Over $500 Billion SHIB Tokens
After an eye-popping withdrawal of 500 billion $SHIB just days ago, Sun has now orchestrated the transfer of approximately 77 billion SHIB tokens from the depths of Binance, clocking in at an estimated $810,000 in value.
The recent SHIB withdrawals add to a series of significant transactions orchestrated by Sun in recent days. Other tokens withdrawn from Binance include 127,510 LINK tokens worth about $1.85 million. 53.68 PEPE tokens worth $76.7K, 202,2385 STORJ tokens worth $200,000, and 13,904 DYDX tokens valued at $43,000.
Sun began his strategic shift in May 2023 with an announcement on X (formerly Twitter). In his tweet Sun announced that he would begin actively trading meme coins.
However, Sun’s recent transactions have left the crypto community speculating about his intentions and their potential impact on the market. While some are worried about the lack of transparency of such high-risk transactions, others see it as a move that could impact the values and market dynamics of the tokens involved. SHIB, which has been the primary focus of these transactions, is trading at $0.00001085, a slight 0.1% increase in the past week.
GFOX Presale Inches Closer To $2million
Another phenomenon that has been causing waves in the cryptocurrency market is the fast-growing presale of GFOX, ranking amongst the top ICOs in 2023 by raising over $1.7 million in its presale.
Currently priced at $0.001518, $GFOX is attracting the attention of investors as it is expected to hit major exchanges in 2024. Additionally, GFOX is designed to keep rewarding its investors through its play-to-earn game and staking platform, while also increasing its intrinsic value through token burns.
The GFOX play-to-earn game is a Web 3 running game where players compete for the top 20% of positions on the leaderboard. After the gaming season, the winners receive rewards in the form of in-game currencies which are exchangeable for GFOX tokens.
As for the staking platform, the GFOX ecosystem has a Stargate that collects 2% of all tractions, creating a pool of funds that is used to reward the most loyal GFOX investors. when an investor locks up their GFOX tokens, they become entitled to part of the Stargate rewards.
The token burn feature, on the other hand, removes part of GFOX tokens from circulation. This periodic event ensures that as GFOX becomes a widely adopted coin, its circulating supply reduces, hence increasing its value.
Final Word
As Justin Sun’s moves continue to make waves in the crypto market, investors are focusing their attention on the GFOX presale which is set to hit the $2 million milestone soon. With most of the stage 5 tokens sold, the presale is now moving into the last half of its presale, intensifying the excitement surrounding this project.
Learn more about GFOX here: Visit Galaxy Fox Presale | Join the Community
Disclaimer
This article is sponsored content and does not represent the views or opinions of BeInCrypto. While we adhere to the Trust Project guidelines for unbiased and transparent reporting, this content is created by a third party and is intended for promotional purposes. Readers are advised to verify information independently and consult with a professional before making decisions based on this sponsored content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
