Crypto News– According to information provided by journalist Colin Wu, it appears that the address associated with Justin Sun holds the distinction of being one of the largest individual Ethereum (ETH) stakers. As of the present moment, the wallet in question contains a substantial 282,796 ETH, equivalent to approximately $447 million. This ETH is staked through the Lido platform. It’s worth noting that earlier in the month, Sun had already unstaked ETH valued at $32.4 million. On October 4, he withdrew 19,999 staked ETH from the Lido Finance platform and transferred them to the Binance exchange. This move raises the possibility that he might have liquidated some of his digital assets or is contemplating doing so in the near future.
Justin Sun Claims the Title of Top Individual ETH Staker
A significant detail to mention is that earlier in 2023, Lido Finance implemented a security feature known as the Staking Rate Limit.
This decision came following a substantial daily influx of 150,000 ETH into the platform. The Staking Rate Limit imposed a cap on the amount of Staked Ether (StETH) that could be generated within a 24-hour window, based on the deposits made during that period. It’s important to highlight that Justin Sun had already staked over 150,000 ETH on Lido at that time.
Furthermore, Justin Sun has previously disclosed his approach to storing bitcoins (BTC). He revealed that, for the past decade since the establishment of the Huobi cryptocurrency exchange, he has consistently stored all of his BTC holdings on that particular platform. Prior to this, he had acknowledged his control over a substantial sum of more than 100,000 bitcoins.
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