Justin Sun, the visionary behind Tron, made a significant financial move on Christmas Eve, transferring a staggering 70,182 Ethereum valued at $244.9 million to HTX. This transaction has caught the eye of many investors and crypto enthusiasts alike.
According to reports from Spot On Chain, this transfer included 42,905 Ethereum (ETH) that Sun unstaked from Lido Finance, a well-known decentralized liquid staking protocol. Additionally, he moved 27,277 ETH from Etherfi. With this latest transfer, Sun’s total deposits to HTX—previously known as Huobi—reached an impressive 179,101 ETH, amounting to around $645 million, all calculated at an average ETH price of $3,601.
Just days before this notable move, on December 23, Sun had already redeemed 39,999 ETH for an impressive $143 million from both Lido Finance and Etherfi, depositing the entire sum into HTX. This transaction brought his cumulative deposits to HTX since November 10 to 108,919 ETH, equating to $400 million at an average price of $3,674 per ETH. Interestingly, at the time, the unstaking process for an additional 42,904 ETH—worth approximately $139 million—was still ongoing at Lido Finance, which has now found its resolution in the Christmas Eve transaction.
For those tracking Sun’s activity in the crypto market, this comes after he had requested the withdrawal of 52,905 ETH from Lido Finance on December 16, valued around $209 million. This action is part of a broader strategy involving the acquisition of 392,474 ETH between February and August at an average cost of $3,027 per ETH, which could result in a profit margin of 29%—definitely impressive in today’s market climate.
In a past move, Sun also made waves by transferring 80,251 ETH, valued at $131 million, from Lido Finance to Binance on October 4, 2023. This maneuver came just before a market dip, showcasing his keen timing. Currently, he holds substantial Ethereum assets, including 106,905 staked tokens worth $372.4 million and 56,277 ETH derivative tokens that are valued at around $195.8 million.
With all these transfers and strategic decisions, Justin Sun continues to capture attention in the cryptocurrency space. His ability to manage such vast amounts of assets demonstrates not only his financial savvy but also reflects a growing trend within the crypto community.
