TRON Inventor Mobilized Millions Of This Altcoin!

As reported by on-chain tracking platforms, Tron (TRX) founder Justin Sun has transferred millions of USDT tokens. The data shows that Sun is moving stablecoins to its wallet in increasingly volatile market conditions. In this middle, TRX is breaking records in terms of respite in case of deflation.

Is the Tron founder up to something?

PeckShieldAlert has found that the address for Justin Sun has withdrawn more than $100 million USDT tokens from Aave Protocol V2 in multiple processes. Sun made the transfers in 2 batches of $50 million each. PeckShieldAlert also noted that the Tron founder transferred 100 thousand dollars of TUSD to a one-to-one address financed by poloniex.

In the midst of this, whale watching platform Whale Alert reported that Justin Sun moved more than $50 million USDT from a marked wallet to an anonymous wallet. This process happened quickly after the founder of Tron pulled USDTs from Aave. USDT in Aave Protocol V2 pool TVL dropped to as low as $200 million after Sun’s withdrawal. However, Aave V2 TVL currently stands at $4.07 billion. However, Aave prices have increased by 6.65% in the last 24 hours. At press time, the altcoin was trading at $79.22.

Did Justin Sun take over Huobi? As you can follow, Justin Sun previously announced that he owns tens of millions of Huobi Tokens (HT). Sun is the official advisor to the Huobi crypto exchange. Therefore, it plans to increase its HT tokens. This has led to an increase in HT prices by over 90% over the past few weeks.

Reports indicate that on October 13, 74 million HT transfers took place from two of Huobi’s official wallets. There are rumors that this backlog is part of the buyout deal between Huobi and Justin Sun.

TRON (TRX) has been in a deflationary state for almost a year

The general bearish trend prevails in the cryptocurrency market. However, many of their assets are striving to stay in the green zone. However, one of them sets a record in terms of time spent in deflation.

TRON (TRX) was in a state of deflation that was close to 50 weeks or a year from the rollover between October 28, 2021, and mid-October 12, 2022, as explained by official explorer TRONSCAN. TRON Blockchain shared this in a tweet on October 17.

According to the announcement, the total measure of TRON tokens reached 9.6 billion TRX at the end of this deflation period. According to the data, the number of TRX produced increased to a maximum of 5,273,312 on August 14, 2021. The number of tokens going to the burn wallet reached a maximum of 1,106,056,407 on May 22, 2022.

Produced TRX measure and burned measure / Source: TRONSCAN

TRX as a deflationary cryptocurrency

The TRON community commissioned an incineration system in February 2021 that reduced its total circulating supply. As such, it agreed to make TRX deflationary. He later announced the token as a deflationary cryptocurrency.

This means that the number of cryptocurrencies in circulation decreases from time to time, making cryptocurrencies more valuable, unlike inflationary cryptocurrencies and classical prestige money, which are devalued by banks and networks printing new cryptocurrencies.

In April 2021, TRX completed its first deflation in history from March 30, 2021 to April 5, 2021. In addition, TRON announced that it has become the world’s first cryptocurrency to go from inflation to deflation. He noted that he consolidated his price in this way.

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