Astar (astr) 
Justin Sun, the founder of Tron, made a significant transfer of 70,182 Ethereum (ETH), valued at $244.9 million, to HTX on Christmas Eve.
Breaking Down the Transaction
The transaction, as reported by Spot On Chain, comprised of 42,905 ETH unstaked from Lido Finance, a decentralized liquid staking protocol. Additionally, Sun transferred 27,277 ETH from Etherfi. This recent transaction brings Sun’s total incoming deposits to HTX to 179,101 ETH, worth $645 million, at an average price of $3,601 per ETH.
Recent Activity and Strategy
Two days prior, on December 23, Justin Sun redeemed 39,999 ETH for $143 million from Lido Finance and Etherfi and deposited the full amount into HTX. This took his total deposits to HTX since November 10 to 108,919 ETH, worth $400 million at an average purchase price of $3,674. The unstaking process for an additional 42,904 ETH, equivalent to about $139 million, was still underway at Lido Finance at the time.
Unstaking and Investment Strategy
On December 16, Sun requested to withdraw 52,905 ETH from Lido Finance, valued at $209 million. This transaction is part of a larger plan involving the purchase of 392,474 ETH between February and August at an average rate of $3,027 per ETH, yielding a 29% profit.
Ethereum Holdings and Market Insights
Justin Sun unstaked 80,251 ETH, worth $131 million, from Lido Finance and poured it into Binance on October 4, 2023. This move came days before the price of ETH fell some 5% by mid-October. Sun has substantial Ethereum-related assets, including:
- 106,905 staked tokens worth $372.4 million
- 56,277 ETH derivative tokens worth $195.8 million
As the cryptocurrency market continues to evolve, investors are closely watching the moves of prominent figures like Justin Sun. Stay up-to-date with the latest news and insights on Global Crypto News.
