A new move has come from Tron founder Justin Sun, who has made a name for himself with his purchases and moves in the cryptocurrency market.
According to Spot on Chain's post, the “0x9F…19Fe address” belonging to Justin Sun withdrew all of the WSTETH in Lido Finance about 10 hours ago and converted it into 109,327 stETH worth approximately 258 million dollars.
Sun sent his 109,327 stETH to two new addresses “0xdC…0ff0 and 0x79…b163” and then sent it to EigenLayer via these two new addresses.
EigenLayer allows ETHs already staked in Ethereum to be re-stakeed in different applications. Users can use tokens such as stETH, rETH, cbETH for this.
Currently, there are still approximately 107,000 WSTETHs in Justin Sun's address, which is worth approximately $301 million.
Stating that more than 1.35 million ETH (worth ~$3.33 billion) has been re-stake on Eigenlayer, Spot on Chain said that Justin Sun is one of the four largest investors who have re-stake ETH.
“More than 1.35 million ETH (~$3.33 billion) has been staked again on Eigenlayer!
Justin Sun withdrew 94.5K WSTETH from Lido and converted them to stETH. He deposited these stETHs to Eigenlayer, making him one of the 4 largest repurchasers:
• Puffer_finance 233.6 thousand ETH ($566 million) • Justin Sun: 109.3 thousand ETH ($265 million) • Eigenpiexyz-io: 88.6 thousand ETH ($215 million) • Kelp DAO: 75.3 thousand ( 182 million dollars)”
Ethereum, which has increased by 2.2% in the last 24 hours, continues to be traded at $ 2,423 at the time of writing.
More than 1.35M $ETH (~$3.33B) have been restaked into @eigenlayer!
Justin Sun (@justinsuntron) unwrapped 94.5K $WSTETH from Lido and then deposited to Eigenlayer ~17hrs ago, making him one of the 4 largest restakers, including:
• Puffer Finance (@puffer_finance): 233.6K ETH… pic.twitter.com/0ZdBZ1ANKG
— Spot On Chain (@spotonchain) February 8, 2024
*This is not investment advice.
