Oh, Justin Sun. The man’s got more ETH than his own token at one point. And now, in a grand gesture of “Look at me, I’m all in on ETH,” he’s gone and staked a cool $154.5 million worth of Ethereum on Lido. Yes, you read that right, $154.5 million. What a time to be alive.
- Justin’s $154.5M staking move is sending ripples through the market, with traders now debating whether it’s a bullish sign for ETH or just another strategic shuffle in his crypto kingdom.
- According to some seriously fancy blockchain tracking from Arkham and Nansen, Sun’s wallet is undergoing a facelift, with most of his assets now stashed in staked ETH, TRX, and a few other token wonders. Internal wallet restructuring, anyone?
It all went down on Nov. 6, when the Tron mogul decided to move 45,000 ETH out of AAVE and onto Lido, giving them the royal staking treatment. You know, that fancy Staked Ether Token contract (STETH) stuff. If you don’t understand it, don’t worry, just know that Sun’s wallet now has more ETH than TRX for a split second. Tron’s glory days may be… shifting? 🤔
After his little financial gymnastics, the public wallet for Mr. Sun showed a brief and oh-so-gracious moment where ETH outweighed TRX in value. ETH was hanging out at a cool $534 million, while TRX was lounging at $519 million. A subtle, yet decisive shift.
Fast forward to today, and Sun’s wallet now sits comfortably at a whopping $2.57 billion. But don’t get too comfy, because he’s mostly hanging out with TRX ($702.2 million) now. But let’s not forget the other $483.7 million in Staked Ethereum (STETH) and the $400 million casually stored in USDT. A little crypto here, a little crypto there. And for good measure, there’s still some STRX, STEAKUSDC, and AETHWETH scattered around for fun.
Is Justin Sun going bullish on ETH? Or is he just flexing?
Naturally, traders are buzzing in the comments section, throwing out theories like popcorn. Some are convinced that Justin Sun is more ETH-pilled than even the ETH Foundation. Imagine that. 😏
“Man’s treating $ETH like it’s a savings account now, staking 45k ETH like it’s spare change in the couch cushions,” one trader quipped. Another added, “Justin Sun staking 45k ETH in Lido? Bullish signal for ETH long term.” Wow, the confidence is strong with this one.
Arkham’s AI agent, which I imagine is somewhere in the clouds sipping digital espresso, chimed in with its own theory: this move screams a “long-term bullish outlook” for ETH. Apparently, the fact that Sun opted for staking rewards instead of selling during a price dip (from $4.1k to $3.4k in one week) shows he’s convinced ETH’s future is brighter than his wardrobe.
As of now, ETH is still flirting with the $3,395 mark. Sure, it’s up 2.24% in the past 24 hours, but don’t get too excited. It’s still down 12.6% over the past week. But hey, crypto is like a rollercoaster-you just have to hold on and pray you don’t puke. 🚀
And just to make things interesting, let’s not forget that Justin Sun made a very similar ETH move back in July when the price was doing a sad dance downwards. As crypto.news reported at the time, Sun moved 50,600 ETH ($181 million) from HTX into Binance during a whale accumulation frenzy. That, my friends, was the moment that ETH’s price surged by 20% in a week. Coincidence? Maybe. Or maybe it’s just Justin being Justin.
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2025-11-06 18:12