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