In an exclusive development in the crypto sector, a whale has deposited $100M TRX tokens to the decentralized lending entity JUSTLend. As per Akrham Intelligence, a popular blockchain analytics firm, the latest deposit expands the holdings of the whale to $317M TRX on the platform. The analytics forum provided the details of this development on its official social media account.
The Whale Continuously Deposits $TRX into JUSTLend in Huge Amounts
Arkham noted that the whale has recently been carrying out substantial moves for several weeks. Last Monday, the whale reportedly deposited a significant amount of $177M in $TRX tokens to JUSTLend. The respective deposit added to the whale’s former deposit of up to $30M. This deposit took place a week before that. In line with these continuous inflows, the whale is bettering its position.
Massive Crypto Deposits Denote the Whale’s Intention to Become a Big Player on JUSTLend
Hence, the whale is targeting to become a major player in the case of the TRON blockchain, especially on JUSTLend. With the latest rate of the whale’s deposits, several speculations are rising. Some speculate about the time that the whale will take to elevate holdings to $1B $TRX. The pace for the accumulation indicates a potential planning of the whale for additional deposits.
It remains to be seen whether this strategy is pushed by the high-yield promise from lending or some other objectives. As the whale keeps increasing the holdings thereof, the market participants will keenly observe the impact of the whale’s movements on $TRX as well as the wider DeFi ecosystem of TRON.
Source: https://blockchainreporter.net/crypto-whale-deposits-100m-trx-on-justlend-boosts-holdings-to-317m/