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Justin Sun’s Ethereum Sell-Off: Is a Storm Brewing? Breaking Down His 15,800 ETH Stake!

  • TRON founder Justin Sun has taken action to withdraw $28.8 million worth of Ethereum from Lido Finance.
  • Justin Sun had staked 15.804 stETH on the liquid staking platform Lido Finance.
  • The assets staked by Justin Sun have gained 11.6% in value since February.

TRON Founder Justin Sun Withdraws $28.8 Million Worth of Ethereum from Lido Finance

Justin Sun, the founder of TRON (TRX), has made a move to withdraw $28.8 million worth of Ethereum from Lido Finance. This comes after Sun had staked 15.804 stETH on the liquid staking platform Lido Finance. According to on-chain analytics platform Nansen analyst Martin Lee, Sun has been waiting for the withdrawal of the staked assets during the process.

Staked Assets Gain 11.6% in Value

The assets staked by Justin Sun have experienced a 11.6% increase in value since February, benefiting from the rise in Ethereum’s value. Since the stake was made, Sun has gained $192 per ETH in dollar value.

Justin Sun’s Stake Rewards

When Sun staked the stETH in February, the amount was 15,560. He has earned over 240 stETH from stake rewards. It is believed that Sun will take advantage of the recent price surge and make a sale.

Over a period of approximately 4 months, Sun has made a total profit of over $3.3 million from stake rewards and the price change in Ethereum.

In late February, when the price of Ethereum was around $1,600, Sun staked nearly 300,000 Ether.

According to CMC data, Ethereum has gained 0.1% in value in the last 30 days and has experienced a 5.9% increase in the last 24 hours, currently trading at $1,825.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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