A wallet labeled as belonging to TRON founder Justin Sun deposited 120,000 Ethereum (ETH) - approximately $480 million - into the liquid restaking protocol ether.fi

Justin Sun is a familiar figure in the DeFi field. Last August, he helped "rescue" the liquidity crisis on Curve Finance by buying 2.3 million USD of CRV tokens while the platform's founder had bad debt. The character is known as an advisor to the Huobi exchange in the past (now known as HTX) and is said to own $1.6 billion in Bitcoin.

The total value locked (TVL) in ether.fi is currently approximately 3 billion USD. According to the set schedule, Binance will list ETHFI at 07:00 PM on March 18, 2024 (Vietnam time).

Liquid staking is a popular activity in the crypto community. The core idea of ​​Liquid Staking is to reuse Liquid Staking Token assets (like stETH) to participate in different networks. Simply put, restaking allows users to reuse locked ETH to increase security for other protocols.

Thanks to the warm reception, TVL of this entire segment has increased to more than 10 billion USD in the last 2 months.