According to on-chain data monitored by Spot On Chain, Tron founder Justin Sun submitted a request one hour ago to withdraw 52,905 ETH (currently valued at approximately $209 million) from the liquidity staking protocol Lido Finance.
As reported by Spot On Chain, this portion of ETH is part of the 392,474 ETH that Justin Sun acquired between February and August of this year through three wallets at an average price of $3,027 (with a total investment of approximately $1.19 billion). He is currently expected to realize a paper profit of $349 million (around 29%).
It is noteworthy that on October 4, 2023, Justin Sun also withdrew a significant amount of ETH (approximately 80,251 ETH) from Lido and subsequently transferred it to Binance within the following four days, after which the price of ETH dropped by about 5% in mid-October.
As of now, Justin Sun’s on-chain address still holds liquidity staking tokens valued at approximately $640 million in ETH.