Justin Sun, the founder of Tron and BitTorrent, recently processed a large amount of transactions involving Ethereum.
According to data from Etherscan, two addresses associated with Sun pulled 30,000 ETH (worth approximately $56 million at the time of this writing) from Lido, a decentralized protocol that allows users to stake their ETH and earn rewards on July 10.
Sun has currently staked 263,294 ETH (approximately $491.6 million worth) on Lido, making it one of the largest depositors on the platform.
From February 25 to February 27, Sun staked a total of 288,100 ETH (approximately $538 million worth) and has won 5,194 ETH (approximately $9 million worth) so far.
His average daily revenue from staking is 38 ETH (approximately $72,000 worth), which translates to an annual percentage return (APY) of about 4.87%.
Similarly, Sun sent $43 million worth of ETH to his own cryptocurrency exchange Poloniex on July 8. Sun, which has made many transactions with ETH, has sent a total of $126 million worth of ETH tokens to Poloniex in the past year.
*Not investment advice.