TRON founder Justin Sun's actions in the Ethereum ecosystem have once again attracted attention.
According to information provided by blockchain analysis platform Spot On Chain, an address belonging to Justin Sun requested a total of 52,905 ETH withdrawal from Lido Finance on December 16. According to current market prices, this amount is equivalent to approximately $209 million.
A few hours before this transaction, Sun invested 322,119 EigenLayers (EIGEN)$EIGEN worth $1.4 million into the HTX platform.
and had staked 175,021 EthFi (ETHFI) worth $516,000. Both assets were tokens derived from Ethereum staking rewards.
The Ethereum withdrawals form part of a larger portfolio of 392,474 ETH acquired from three different wallets between February and August of this year at an average unit price of $3,027.
The total investment in this transaction was calculated as approximately $1.19 billion, while the total gain based on current market value was recorded as $349 million (+29%).
Justin Sun, 80,251 ETH ($131 million) from Lido on October 4, 2023$ETH
and then sent them to Binance. Immediately after this transfer, the price of Ethereum dropped by 5% in four days.
While this transaction once again reveals Justin Sun's active role and significant investments in the crypto markets, it still remains unclear for what purpose the ETH withdrawals will be used.