CDS Crypto News Justin Sun Stakes Millions Worth ETH on Lido
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Justin Sun Stakes Millions Worth ETH on Lido

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Justin Sun Stakes Millions Worth ETH on Lido

Prior to the upcoming March update of Ethereum Shanghai, Justin Sun, the founder of Tron, invested millions of dollars in Ethereum (ETH) on the Lido Finance Ethereum liquid staking platform Lido Finance.

Justin Sun Stakes Millions Worth ETH on Lido
Justin Sun Stakes Millions Worth ETH on Lido 1

Justin Sun Stakes Millions Worth ETH on Lido

On February 25, Lookonchain announced that Justin Sun’s address raised over $240 billion in ETH using the Lidо platform. Yesterday DeBand wallet details revealed three transactions, including a 50,000-ETH transfer to Lido and a 100-ETH transfer to Lido. Three transfers of 50,000 ETH from Justin Sun to an unidentified wallet were also recorded by the Whale Alert website, with a total value of $80,077,036.

Justin Sun Stakes Millions Worth ETH on Lido
Justin Sun Stakes Millions Worth ETH on Lido 2

Justin Sun’s commitment to ETH in the liquid staking pool Lido is obvious. This shows that Justin Sun believes in Ethereum Shanghai’s upgrades and wants to take advantage of them. As Shanghai’s upgrade approaches, the number of people staking Ethereum increases.

There have been more than 17.02 million ETH worth $27.27 billion placed into the Beacon Chain, as of the latest available on-chain statistics. An increase in ETH staking on the Beacon Chain is a positive indicator of Ethereum’s security and growth, but developers still need to permit withdrawals so the network can remain stable.

Justin Sun Stakes Millions Worth ETH on Lido
Justin Sun Stakes Millions Worth ETH on Lido 3

According to Nansen data, there are currently about 96.9K depositors. According to BeaconScan information, currently about 525,923 validators are used. The activation of the Shapella (Shanghai/Capella) network upgrade on the Sepolia testnet was previously announced by the Ethereum Foundation and is scheduled to take place on February 28 at 04:04:48 UTC.

Source

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Written by
ali009

The author is 28 year old student recently graduated from Celal Bayar University, Faculty of Medicine. Currently he works as a writer and translator for different platforms.

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