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Justin Sun, the founder of Tron, sent 70,182 ethereum, worth $244.9 million, on Christmas Eve to HTX.
The transfer, reported by Spot On Chain, consists of 42,905 unstaked ethereum (eth) from Lido Finance, a decentralized liquid staking protocol. Sun also transferred 27,277 eth from Etherfi. The new transaction brought Sun's total incoming deposits into HTX (formerly Huobi) at the end of last month to 179,101 eth, worth $645 million, at an average price of $3,601 per eth.
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https://twitter.com/spotonchain/status/1871712294109143175
Two days earlier, on December 23, Justin Sun exchanged 39,999 eth for $143 million from Lido Finance and Etherfi and deposited the entire amount into HTX. This brought their total deposits to HTX since November 10 to 108,919 eth, worth $400 million at an average purchase price of $3,674. The staking process for an additional 42,904 eth, equivalent to around $139 million, was still ongoing at Lido Finance at the time. The destaking process has now partially culminated with the Christmas Eve transaction.
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 that involves the purchase of 392,474 eth between February and August at an average rate of $3,027 per eth, yielding a 29% profit.
Sun withdrew 80,251 eth, worth $131 million, from Lido Finance and invested it in Binance on October 4, 2023, as previously reported. This move came days before the price of eth fell around 5% in mid-October. Sun has significant ethereum-related assets, including 106,905 staked tokens worth $372.4 million and 56,277 eth-derived tokens worth $195.8 million.
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