Key Points
Sun’s Ethereum Transactions
Justin Sun, the Tron founder, moved 70,182 Ethereum (ETH) valued at $244.9 million to HTX on Christmas Eve.
The transaction was reported by Spot On Chain.
It consisted of 42,905 ETH unstaked from Lido Finance, a decentralized liquid staking protocol.
In addition, Sun transferred 27,277 ETH from Etherfi.
This recent transaction increased Sun’s total deposits to HTX (formerly Huobi) at the end of last month to 179,101 ETH.
This amount equates to $645 million, at an average price of $3,601 per ETH.
Two days prior, on Dec. 23, Sun redeemed 39,999 ETH for $143 million from Lido Finance and Etherfi.
He then deposited the full amount into HTX.
This brought his total deposits to HTX since Nov. 10 to 108,919 ETH.
This sum is 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.
This process has now partially concluded with the Christmas Eve transaction.
On Dec. 16, Sun requested to withdraw 52,905 ETH from Lido Finance.
This was valued at $209 million.
This transaction forms part of a larger plan involving the purchase of 392,474 ETH between February and August.
The average rate was $3,027 per ETH, yielding a 29% profit.
Sun unstaked 80,251 ETH, worth $131 million, from Lido Finance.
He moved it into Binance on Oct. 4, 2023, as reported earlier.
This action took place days before the price of ETH fell by approximately 5% by mid-October.
Sun has considerable Ethereum-related assets.
These include 106,905 staked tokens worth $372.4 million and 56,277 ETH derivative tokens worth $195.8 million.