TRON founder and BitTorrent CEO Justin Sun has processed a number of major cryptocurrency transactions in the past few hours, according to blockchain data.
Sun received back a total of 30,000 stETH today, a tokenized version of Ethereum's stake rewards, from its two wallets 0x611…DF01 and 0x176…0a132.
The value of tokens removed from staking during the transaction was approximately $55.8 million.
Later, Sun transferred 23,000 ETH, worth approximately $43 million, from wallet 0x611…DF01 to Poloniex, a cryptocurrency exchange that reportedly bought it in 2019.
This isn't the first time Sun has moved ETH to Poloniex. Blockchain data shows that it transferred a total of 67,500 ETH, worth approximately $126 million, in seven transactions last year.
Sun did not publicly comment on the reasons behind his crypto moves.
At the time of this writing, Sun's 0x176…0a132 wallet has a total of approximately $414 million in cryptocurrencies. Most of them are stETH with 360 million dollars. Most of his remaining stash, $50 million, consists of various stablecoins.
*Not investment advice.