Justin Sun, the founder of Tron, sent 70,182 Ethereum worth $244.9 million to HTX on Christmas Eve.
The transfer reported by Spot On Chain consists of 42,905 Ethereum (ETH) unstaked by Lido Finance, a decentralized liquid staking protocol. Sun also transferred 27,277 ETH from Etherfi. The new transaction brought Sun’s total inbound deposits to HTX (formerly Huobi) to 179,101 ETH at the end of last month, valued at $645 million, at an average price of $3,601 per ETH.
Two days earlier, on December 23, Justin Sun redeemed 39,999 ETH for $143 million from Lido Finance and Etherfi and deposited the entire amount into HTX. This brings his total deposits to HTX since November 10 to 108,919 ETH, worth $400 million with an average purchase price of $3,674. The unstaked process for an additional 42,904 ETH, equivalent to about $139 million, was still ongoing at Lido Finance at the time. The cancellation process has now partially culminated in the Christmas Eve transaction.
On December 16, Sun requested the withdrawal of 52,905 ETH worth $209 million from Lido Finance. This transaction is part of a larger plan that involves purchasing 392,474 ETH between February and August at an average price of $3,027 per ETH, representing a 29% profit.
As previously reported, Sun withdrew 80,251 ETH worth $131 million from Lido Finance and transferred it to Binance on October 4, 2023. This move came a few days before the price of ETH fell by around 5% by mid-October. Sun has significant Ethereum-related assets, including 106,905 staked tokens worth $372.4 million and 56,277 ETH…
