According to the on-chain data monitored by Spot On Chain, Tron founder Justin Sun applied to withdraw 52,905 ETH (currently worth approximately $209 million) from the liquidity staking protocol Lido Finance one hour ago.
According to Spot On Chain, this portion of ETH is part of the 392,474 ETH purchased by Justin Sun at an average price of $3,027 between February and August this year through three wallets (total investment of approximately $1.19 billion), with an expected profit of $349 million (about 29%).
It is worth noting that on October 4, 2023, Justin Sun also withdrew a large amount of ETH (approximately 80,251 tokens) from Lido and transferred it to Binance within the following four days. The price of ETH then dropped by about 5% in mid-October.
As of now, Justin Sun’s on-chain address still holds liquidity staking tokens of ETH worth approximately $640 million.
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