In his tweet, Sun wrote, “RLUSD on Tron? @JoelKatz”, sparking discussions about the potential expansion of Ripple’s recently approved stablecoin, RLUSD, to the Tron blockchain.

RLUSD on Tron? @JoelKatz

— H.E. Justin Sun (@justinsuntron) December 11, 2024

What Does This Mean?

Justin Sun’s request came when Ripple secured final regulatory approval for RLUSD from the New York Department of Financial Services (NYDFS).

This milestone represents a significant achievement in Ripple’s ongoing efforts to enhance its presence in the stablecoin and payments sectors. Currently, RLUSD is confirmed to launch exclusively on the XRP Ledger and Ethereum, two of the most prominent blockchain platforms.

Sun’s outreach highlights his interest in making Tron a key player in RLUSD adoption. By inviting Schwartz to bring RLUSD to the Tron ecosystem, Sun is positioning Tron as a competitive and versatile blockchain network capable of supporting Ripple’s stablecoin.

Strategic Implications

Ripple’s decision to launch RLUSD on the XRP Ledger and Ethereum demonstrates a focus on leveraging networks with established ecosystems and robust infrastructure. Ethereum, as a leading smart contract platform, offers extensive DeFi integrations, while the XRP Ledger is optimized for efficient cross-border payments.

Sun’s proposal could be seen as an attempt to diversify RLUSD’s accessibility by incorporating Tron, a network known for its scalability, low transaction fees, and high throughput.

Tron has already established itself as a leading blockchain for decentralized finance (DeFi), gaming, and stablecoins, hosting major projects like USDT and USDC. Adding RLUSD to Tron could expand the stablecoin’s user base and increase its utility within DeFi and payment systems.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Potential Motivations

Sun’s invitation might also reflect an ambition to align Tron with high-profile blockchain initiatives, leveraging Ripple’s regulatory approval as a trust and compliance signal.

Why did Sun make this move? He’s seemingly seeking to establish Tron as an attractive alternative or complementary platform for stablecoin issuance and adoption.

Moreover, Ripple’s recent regulatory win sets a precedent for the acceptance of stablecoins by U.S. regulators, a development that could shape the broader cryptocurrency landscape. Tron’s proactive approach aligns with its ongoing efforts to remain competitive in a rapidly evolving market.

Challenges and Prospects

While Sun’s outreach reflects strategic intent, several challenges must be considered. Extending RLUSD to the Tron network would require assessing the technical, regulatory, and market implications. Compatibility with Tron’s infrastructure and alignment with Ripple’s business objectives would be critical factors.

From Ripple’s perspective, adding a third blockchain to support RLUSD may not be a priority, particularly given its focus on the XRP Ledger and Ethereum. However, if Tron can demonstrate tangible benefits such as faster adoption or reduced operational costs, Ripple might consider Sun’s proposal.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Sun recently executed a transfer of 20 brillion SHIB, currently valued at $675,400, to Poloniex – a cryptocurrency exchange closely associated with his expanding crypto initiatives. PeckShield, a security and intelligence platform, made the transfer known in a post on X.

#PeckShieldAlert #JustinSun 4 -labeled address has transferrred 20T $SHIB (worth $544.4K) to #Poloniex pic.twitter.com/TS84iCQEaU

— PeckShieldAlert (@PeckShieldAlert) March 4, 2024

Read Also: Tron Founder Justin Sun Withdraws 500 Billion SHIB From Binance

Justin Sun’s History with Shiba Inu (SHIB)

This transaction highlights Justin Sun’s continued interest in Shiba Inu. He has been actively involved in large SHIB movements in the past. Times Tabloid earlier reported a large withdrawal of 79.33 billion SHIB from Binance in January, which at the time was worth $751,000.

Also, wallets associated with Justin Sun initiated a withdrawal of 577 billion SHIB (approximately $6 million at the time) from Binance in December. These transactions have positioned Justin Sun as a key Shiba Inu whale.

One potential reason for Sun’s transfer could be to increase SHIB’s availability for trading on Poloniex, potentially attracting more users to the exchange, other insiders suggest that Sun may be preparing for a contribution to SHIB burn efforts designed to decrease the token’s circulating supply.

Shiba Inu (SHIB) Price Action and Market Considerations

Shiba Inu has experienced a substantial price surge in recent days, currently trading at $0.00003377. This represents a 47.87% increase in the past 24 hours, bringing its market capitalization to over $19 billion. The token’s value has more than doubled since Sun’s December transfer of 577 billion SHIB.

Investors currently holding the digital asset are faced with a critical decision: to realize profits at the current price level or hold in anticipation of further price appreciation. While the recent surge offers an attractive opportunity for taking profits, there are compelling reasons to consider maintaining a position in SHIB.

The broader cryptocurrency market is exhibiting bullish signals, with Bitcoin leading the charge with an upward trajectory. This positive sentiment often spills over into the altcoin market, potentially propelling SHIB to retest its all-time high soon.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: A Whale Sold 5 Trillion SHIB; Is This Why SHIB Dipped Over 31%, Could This Be Justin Sun? Details

Historical trends often show a correlation between Bitcoin’s price action and the performance of altcoins, including SHIB. Selling the meme coin prematurely in this scenario could result in missing out on potential gains if the token manages to reach or even surpass its highest peak.

Seasoned traders like Justin Sun, who have a deep understanding of market dynamics, are likely weighing these factors carefully when considering their own SHIB holdings.

Their actions, such as holding significant amounts of the token, can offer clues but shouldn’t be treated as definitive investment advice. Ultimately, the decision to sell or hold SHIB rests on individual risk tolerance, investment goals, and thorough market research.

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The post Tron’s Justin Sun Moves 20B SHIB, Sparking Optimism for Continued Price Explosion appeared first on Times Tabloid.

Justin Sun’s SHIB Accumulation

Sun withdrew a staggering 500 billion SHIB tokens from the Binance exchange in December 2023. This transaction, valued at roughly $5 million at the time, sent shockwaves through the Shiba Inu community and signaled Sun’s initial interest in the project. After that, he made other withdrawals, bringing his SHIB holdings to 577 billion SHIB.

Read Also: Shibarium-Powered SHIB Burn Encounters Delay. Here’s Detail From Shiba Inu Team

But Sun’s involvement with SHIB didn’t stop there. Just recently, blockchain tracker Spot On Chain (@spotonchain) shared another substantial SHIB withdrawal from the Tron founder’s address. This time, he withdrew 79.334 billion SHIB, valued at $751,295. The transactions have put Sun’s total SHIB holdings at a noteworthy 656 billion, valued at $6.25 million.

Wallet 0x9fcc linked to @justinsuntron withdrew $3.54M worth of 5 assets, including $LINK, $FLOKI, $MANA, $SHIB, and $BAND, from #Binance ~14hrs ago.

Note that Justin Sun also recently withdrew 500B $SHIB (then $5.22M) from #Binance on Dec 19, 2023 via another address.

For more… https://t.co/4VwkFiyZ9V pic.twitter.com/GWU1hStBzm

— Spot On Chain (@spotonchain) January 18, 2024

It’s worth noting that SHIB now ranks as the second-largest holding within Sun’s Ethereum-based portfolio, highlighting his growing confidence in the meme coin’s potential.

Increasing Whale Interest

Sun’s significant Shiba Inu (SHIB) accumulation has not gone unnoticed. Many within the community view the crypto entrepreneur as a savvy investor, and his actions have undoubtedly influenced other whales to take notice.

There has been a surge in whale activity surrounding SHIB since then. This intensified after the meme coin dipped below $0.00001 in early January, following fake news of the SEC denying all spot Bitcoin ETF applications.

These whale movements must have been to accumulate tokens while awaiting a price resurgence. The transactions also helped stabilize SHIB around that level, which is a crucial support.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: “No. Burn SHIB. Period”, Says Shiba Inu Lead Dev As $1.2M Shibarium Gas Fee Is Unveiled

Justin Sun’s Actions a Vote of Confidence in SHIB?

While the exact reasons behind Sun’s SHIB accumulation remain unclear, his actions have undoubtedly bolstered the confidence of many Shiba Inu holders. His decision to acquire a significant amount of SHIB and hold it despite recent market fluctuations suggests a genuine belief in the project’s long-term potential.

It’s important to remember that the amount of SHIB Sun holds represents a relatively small portion of his overall portfolio. However, the symbolic significance of his involvement cannot be understated.

Sun’s actions have caused increased whale interest and investor confidence in the SHIB ecosystem, potentially paving the way for future growth and success. The SHIB team is currently making big moves to “invade the internet,” and Sun’s confidence in the meme coin might pay off soon.

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The post Justin Sun Moves More SHIB In Billions After 577B SHIB Withdrawal From Binance appeared first on Times Tabloid.

This is not an isolated event, though. It is part of a string of sizable token withdrawals Sun has made in recent days, sending ripples through the crypto community.

Read Also: Shiba Inu News: This Bullish Signal Is Setting the Stage For SHIB Potential Gain

But what’s behind this apparent exodus? Is Sun jumping ship on SHIB and other altcoins? These are the questions on the minds of many crypto enthusiasts. Sun’s transaction was reported by Lookonchain (@lookonchain), a blockchain analytics account on X.

Justin Sun withdrew 500B $SHIB($5M) from #Binance 10 mins ago.https://t.co/Q0b1cxVVsThttps://t.co/czbi7tqz1X pic.twitter.com/TlEwTNTRoP

— Lookonchain (@lookonchain) December 18, 2023

The Withdrawal Spree

The previous post from Lookonchain shows that Sun hasn’t limited himself to SHIB. His Binance withdrawal roster in the past few days boasts a diverse mix of altcoins, including 127,510 LINK ($1.85 million), 202,385 STORJ ($200,000), and even meme coins like 53.68 billion PEPE ($76.7K) and 13,904 DYDX ($43K).

Sun’s actions could add to the recent whale transactions that recently threatened to ruin SHIB’s bull run. Naturally, these large-scale movements haven’t gone unnoticed, with speculation swirling about their possible impact on the respective coin prices.

It is no secret that Sun has a penchant for meme coins. Earlier this year, he declared his intention to actively trade them and other promising projects, taking full responsibility for potential losses while generously pledging all profits to charity.

However, he also emphasized that his ventures weren’t financial advice and didn’t guarantee listings on any exchanges, including his own Huobi Global and Poloniex.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: Shiba Inu (SHIB) Holders Need To Pay Attention To This Warning

Dissecting the Motives

It is difficult to pinpoint one specific reason. It could be a strategic portfolio shift, a move to liquidate positions for his charity endeavors, or simply market maneuvering to influence token prices.

Regardless, his actions could influence the crypto landscape, with his sizable holdings and outspoken personality commanding attention.

Shiba Inu (SHIB) is currently trading at $0.00001045, up 0.83% in 24 hours. Although SHIB’s price has not seen a major drop, SHIB’s trading volume is down by a shocking 45.28% to $333.47 million.

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The post Tron Founder Justin Sun Withdraws 500 Billion SHIB From Binance appeared first on Times Tabloid.

The controversial project founder is in full support of the planned miner-led post-Merge Ethereum hardfork. This possible post-Merge fork aims to create a blockchain that still runs on proof-of-work (PoW) after  Ethereum is transitioned to proof-of-stake (PoS) in September. 

In a recent interview with CoinDesk TV, Justin Sun pointed out that the proof-of-work (PoW) consensus algorithm provides a good foundation for the Ethereum infrastructure, although the protocol concept is associated with high transaction fees and lack of scalability. 

He claims that the post-Merge fork led by the popular Chinese cryptocurrency miner, Chandler Guo, is a chance to preserve PoW technology for Ethereum in the future. 

More so, the proof-of-stake (PoS) project founder remarked that PoW-based smart contract platforms are essential to the whole crypto industry, citing that the existing PoW projects like Bitcoin (BTC) are not useful in building decentralized applications (dApps). 

“PoW is essential for Ethereum even though most people complain about high transaction fees and very slow transactions. I still believe that proof-of-work actually provides a very good foundation for Ethereum infrastructure.” – Justin Sun stated. 

Asides from saying that PoW is essential, he highlighted the high security the consensus algorithm brings to the industry. 

“Today, around $60 billion worth of crypto assets are on the Ethereum blockchain, all guarded by proof-of-work. I believe that we still need a chance to keep proof-of-work for Ethereum so, that’s why I support proof-of-work for Ethereum,”  Justin Sun added.

Tron (TRX) founder also pointed out that EthereumPoW (ETHPoW), if successful, will allow the large community of crypto miners to keep their financial activity intact. In turn, ETHPoW will be a close competitor with the proof-of-stake Ethereum network. 

According to him, about 50% of the crypto community, especially Bitcoin maximalists and crypto miners, still believes that PoW is safer and more decentralized than PoS networks. Regardless, Ethereum developers confirmed the Merge upgrade will occur in September. 

Although several crypto exchanges, miners, and popular figures like Justin Sun have shown support for the planned post-Merge Ethereum fork, Vitalik Buterin believes the planned ETHPoW network will not succeed nor have a long-term substantial adoption.

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The post Post-Merge Ethereum Fork (ETHPoW) Supported by Justin Sun, Says PoW is Essential appeared first on Times Tabloid.

However, it was later discovered that it’s all fake because of the exploit used by scammers, according to PeckShield, an Ethereum block explorer.

Read Also: Binance Announces Support for Terra Network Rebirth: Details

As stated in the report, the Wrapped LUNA 2.0 contract address issued millions of Luna 2.0 tokens and transferred them to the official addresses of Vitalik Buterin, Three Arrows Capital, Justin Sun, and other crypto big guns.

According to PeckShield, these Wrapped LUNA 2.0 tokens were sent to an official Terra deployer and airdropped to the addresses of crypto influencers mentioned above.

PeckShield tweeted, “#PeckShieldAlert PeckShield has detected Scammers sending Wrapped LUNA 2.0 to #Terra Deployer Etherscan.io/token and airdropping to @VitalikButerin @a16z #ThreeArrowsCapital @justinsuntron @terra_money. It tricks folks it is the official #Terra Deployer #airdrop. Be Alert!”

#PeckShieldAlert PeckShield has detected Scammers sending Wrapped LUNA 2.0 to #Terra Deployer https://t.co/i590fG1nnp and airdropping to @VitalikButerin @a16z #ThreeArrowsCapital @justinsuntron @terra_money.
It tricks folks it is the official #Terra Deployer #airdrop. Be Alert! pic.twitter.com/Scz1RKKOl8

— PeckShieldAlert (@PeckShieldAlert) May 26, 2022

What Were the Con Artists Thinking?

The major target of the con artists is to make users think that the Wrapped LUNA 2.0 address is an official deployer of Terra 2.0 tokens and trick them to send their real funds to the smart contract addresses.

The scammers chose the addresses of the aforementioned crypto influencers, especially Buterin’s ENS address vitalik.eth, to make the contract page look more credible, attracting regular users to swap their massively devalued Luna tokens to a new version.

Read Also: Do Kwon Speaks On Why Terraform Labs Was Shut Down In Korea Days before the Historic Crash

Following the crash of TerraUSD (UST) and Terra (LUNA), DO Kwon, the co-founder and CEO of Terraform Labs, made a proposal for the creation of a new blockchain to save the affected holders.

Despite that the vote conducted for about a week on Terra’s governance platform ended in favor of the proposal, many users are still unhappy with the decision. Some of them think Terra validators should have worked to revive the current chain instead of opting to create a new one.

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The post Vitalik Buterin Received Millions of LUNA 2.0 Tokens from Scammers Who Faked the Token Airdrop appeared first on Times Tabloid.

SHIB price experienced major turbulence, which led to over 31% price downtrend within 24 hours, bringing the token to trade around $0.00000914.

Read Also: Shiba Inu Team Says Stablecoin SHI, Shibarium, SHIBFE Are Nearing Completion: Details

BNB Whale Sold Whopping 5 Trillion SHIB

Although all the top cryptocurrencies, including Bitcoin (BTC) and Ethereum, have been enduring this unfavorable situation together, Shiba Inu (SHIB) massive dump has been blamed on the whopping sales of SHIB tokens in trillions over the past 24 hours.

As tracked on Etherscan, an anonymous whale was behind the major sell-off. The whale reportedly sold 5 trillion SHIB worth about 52.9 million in two transactions within the last 24 hours. All the tokens were sent to an address named Binance 14 .

A look into the whale’s wallet shows that he still has 3 trillion SHIB worth $31.44 million.

Read Also: Famous Fashion Brand Gucci Adds Shiba Inu (SHIB) As Payment Option: Details

Could This Whale Be Justin Sun?

Following the enormous selloff, rumors began to spread that the mysterious whale’s wallet belongs to the founder and CEO of Tron, Justin Sun.

Gossip SHIB, a popular member of the Shiba Inu community, who also noticed the activity of the mysterious whale, directly asked Justin Sun to clarify the allegation.

Captioning the screenshot of the whopping transactions, Gossip SHIB wrote, “Justin Sun is the evil behind SHIB dip today? Conspiracy or true?”

at the time of the dip it looked like this pic.twitter.com/80rT76hwpd

— ♛ Gossip SHIB ♛ (@GossipShib) May 12, 2022

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The post A Whale Sold 5 Trillion SHIB; Is This Why SHIB Dipped Over 31%, Could This Be Justin Sun? Details appeared first on Times Tabloid.