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News

Justin Sun Liquidates 30,000 ETH From Lido, Holds $491.6M in Staked Holdings

July 11, 2023 - Around 3 mins mins to read

Key Points:

  • Prominent blockchain entrepreneur Justin Sun withdraws 30k ETH ($56M) from Lido platform.
  • Sun still holds 263k ETH ($491.6M), demonstrating continued interest in Ethereum ecosystem.
  • Sun earned 5,194 ETH ($9M) and 4.87% annual percentage yield (APY) through staking activities.
Two addresses associated with Justin Sun, the prominent blockchain entrepreneur and founder of TRON, have withdrawn a substantial amount of Ethereum (ETH) from the Lido platform.
Justin Sun Liquidates 30000 ETH from Lido Holds 491.6M in Staked Holdings 1

The withdrawals, totaling 30,000 ETH, amounted to an estimated value of $56 million. The transactions took place just one hour ago, according to blockchain data.

Despite the recent withdrawals, Justin Sun still holds a significant stake in Ethereum. Currently, he has 263,294 ETH, valued at approximately $491.6 million. The substantial holdings demonstrate his continued interest and confidence in the Ethereum ecosystem.

Justin Sun had previously staked a considerable amount of ETH in Lido. Between February 25 and February 27, he staked a total of 288,100 ETH, equivalent to approximately $538 million at the time. As a result of his staking activities, Sun earned a considerable amount of additional ETH. In total, he earned 5,194 ETH, valued at approximately $9 million.

image 609

Moreover, the staking activities allowed Justin Sun to generate a daily income of 38 ETH, equivalent to approximately $72,000. Based on the data available, the annual percentage yield (APY) for his staked ETH is estimated to be around 4.87%. These figures indicate the lucrative nature of staking activities and highlight Sun’s successful venture into the Ethereum ecosystem.

Justin Sun’s involvement and significant holdings in Ethereum continue to contribute to the overall dynamics of the cryptocurrency market. As a high-profile figure in the blockchain industry, his actions are closely monitored by enthusiasts and investors alike.

image 610

The recent withdrawal of 30,000 ETH from the Lido platform has raised speculation within the community about Sun’s intentions and potential plans for the funds. The movement of such large amounts of cryptocurrencies often sparks interest and discussions about future investment strategies or market expectations.

As the Ethereum ecosystem evolves and attracts increased attention from institutional and individual investors, the actions of prominent figures like Justin Sun serve as indicators of market sentiment and provide valuable insights into emerging trends.

Justin Sun’s involvement in Ethereum will further unfold and whether his future moves will continue to impact the market. As the cryptocurrency landscape continues to evolve rapidly, stakeholders will closely monitor developments involving influential figures such as Sun and their activities within the Ethereum ecosystem.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

ETH

Justin sun

Lido

Staked Holdings

TRON

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Justin Sun Liquidates 30,000 ETH From Lido, Holds $491.6M in Staked Holdings

Key Points:

  • Prominent blockchain entrepreneur Justin Sun withdraws 30k ETH ($56M) from Lido platform.
  • Sun still holds 263k ETH ($491.6M), demonstrating continued interest in Ethereum ecosystem.
  • Sun earned 5,194 ETH ($9M) and 4.87% annual percentage yield (APY) through staking activities.
Two addresses associated with Justin Sun, the prominent blockchain entrepreneur and founder of TRON, have withdrawn a substantial amount of Ethereum (ETH) from the Lido platform.
Justin Sun Liquidates 30000 ETH from Lido Holds 491.6M in Staked Holdings 1

The withdrawals, totaling 30,000 ETH, amounted to an estimated value of $56 million. The transactions took place just one hour ago, according to blockchain data.

Despite the recent withdrawals, Justin Sun still holds a significant stake in Ethereum. Currently, he has 263,294 ETH, valued at approximately $491.6 million. The substantial holdings demonstrate his continued interest and confidence in the Ethereum ecosystem.

Justin Sun had previously staked a considerable amount of ETH in Lido. Between February 25 and February 27, he staked a total of 288,100 ETH, equivalent to approximately $538 million at the time. As a result of his staking activities, Sun earned a considerable amount of additional ETH. In total, he earned 5,194 ETH, valued at approximately $9 million.

image 609

Moreover, the staking activities allowed Justin Sun to generate a daily income of 38 ETH, equivalent to approximately $72,000. Based on the data available, the annual percentage yield (APY) for his staked ETH is estimated to be around 4.87%. These figures indicate the lucrative nature of staking activities and highlight Sun’s successful venture into the Ethereum ecosystem.

Justin Sun’s involvement and significant holdings in Ethereum continue to contribute to the overall dynamics of the cryptocurrency market. As a high-profile figure in the blockchain industry, his actions are closely monitored by enthusiasts and investors alike.

image 610

The recent withdrawal of 30,000 ETH from the Lido platform has raised speculation within the community about Sun’s intentions and potential plans for the funds. The movement of such large amounts of cryptocurrencies often sparks interest and discussions about future investment strategies or market expectations.

As the Ethereum ecosystem evolves and attracts increased attention from institutional and individual investors, the actions of prominent figures like Justin Sun serve as indicators of market sentiment and provide valuable insights into emerging trends.

Justin Sun’s involvement in Ethereum will further unfold and whether his future moves will continue to impact the market. As the cryptocurrency landscape continues to evolve rapidly, stakeholders will closely monitor developments involving influential figures such as Sun and their activities within the Ethereum ecosystem.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.