According to blockchain analytics firm Arkham Intelligence, Tron founder Justin Sun recently moved approximately 45,000 Ethereum, valued at over $154 million, from the decentralized lending platform AAVE to Lido Staking on Wednesday.
Public wallet data shows Sun holds $534 million in Ethereum, surpassing his $519 million in TRX holdings.
This move represents one of the largest institutional Ethereum deposits in recent months. Lido is a liquid staking protocol that allows users to stake Ethereum while maintaining liquidity through derivative tokens.
Earlier this year, Sun proposed a strategy aimed at influencing the Ethereum Foundation and boosting ETH’s price to $10,000 by halting ETH sales and implementing additional financial strategies.
At the time of reporting, ETH was trading around $3,400, up 3.5% over the past 24 hours, according to CoinGecko. Earlier this week, the second-largest cryptocurrency briefly dropped below $4,200 amid broader market declines, during which Bitcoin fell below $100,000, marking its lowest level since June.
