According to data reported by the on-chain analysis platform Spot On Chain, Justin Sun transferred 8 altcoins with a total value of $14.3 million to the cryptocurrency exchange Binance.

These altcoins included Ether.fi (ETFI), Curve (CRV), Polygon (MATIC), Galxe (GAL), WOO (WOO), Prosper (PROS), and TrueFi (TRU). Sun transferred $12.05 million worth of ETFI, $1.96 million worth of CRV, and a total of $333,000 in CVX, MATIC, GAL, WOO, PROS, and TRU.

These transfers by Sun were interpreted as a preparatory move before a large-scale sale.

Justin Sun has been selling for a week.

In the past week, Justin Sun transferred 12 different altcoins worth over $35 million to the cryptocurrency exchange Binance. On June 10, Sun sold Aave (AAVE), Maker (MKR), Compound (COMP), and Liquity (LQTY).

In recent months, Sun has been buying large amounts of altcoins and making millions of dollars in profit, likely realizing gains to hedge against potential market downturns.