<p class="is-style-lead">The founder of the Tron crypto project, the notorious businessman Justin Sun, has become the largest individual staker of Ether (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>).</p>
<p>According to journalist Colin Wu, the address tagged Justin Sun is probably the largest individual ETH staker. The wallet mentioned currently has 282,796 ETH (around $447 million at the time of writing) staked on Lido.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The address tagged Justin Sun is probably the largest individual ETH staker. The two address tagged Justin Sun currently has 282,796 ETH ($439M) staked on Lido. According to <a href="https://twitter.com/EmberCN?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@EmberCN</a><br>– 0x176f3dab24a159341c0509bb36b833e7fdd0a132 (192,656 ETH)…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1713587567239844282?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 15, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>At the beginning of the month, Sun had already unstaked $32.4 million worth of ETH. On Oct. 4, Sun <a href="https://crypto.news/justin-sun-moves-1-3m-to-binance-and-11m-of-btt-through-smart-contracts/" rel="noopener noreferrer nofollow">withdrew</a> 19,999 staked ETH from the Lido Finance platform and sent them to the Binance exchange. It can be assumed that the businessman has sold digital assets or plans to do so in the near future.</p>
<p>Notably, in early 2023, Lido Finance&nbsp;activated a security feature called Staking Rate Limit. This comes after the platform recorded its largest daily inflow of 150,000 ETH.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Lido protocol has registered its largest daily stake inflow so far with over 150,000 ETH staked. 🎉 <br><br>Upon reaching this number, a curious (but important) protocol safety feature called Staking Rate Limit was activated. <br><br>Here’s how it works🧵👇 <a href="https://t.co/ngBtWz7q18" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ngBtWz7q18</a></p>— Lido (@LidoFinance) <a href="https://twitter.com/LidoFinance/status/1629435773920374785?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 25, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The cap reduced the amount of Staked Ether (StETH) that could be mined at any given time based on deposits over the last 24 hours. At that time, Sun already had more than 150,000 ETH staked on Lido.</p>
<p>Sun also previously <a href="https://twitter.com/justinsuntron/status/1698969723570942343?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1698969723570942343%7Ctwgr%5E15d81f6722523e2a5c52bc23be2884ff463b9f26%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fwp%2Fwp-admin%2Fpost.php%3Fpost%3D14204559action%3Dedit" data-type="link" data-id="https://twitter.com/justinsuntron/status/1698969723570942343?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1698969723570942343%7Ctwgr%5E15d81f6722523e2a5c52bc23be2884ff463b9f26%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fwp%2Fwp-admin%2Fpost.php%3Fpost%3D14204559action%3Dedit" rel="noopener noreferrer nofollow">revealed</a> where he stores his bitcoins (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>). According to him, for ten years, since the founding of the Huobi cryptocurrency exchange, he has stored all his BTC on the platform. Before this, he noted that he controlled over 100,000 bitcoins.</p>
<p>You might also like: <a href="https://crypto.news/justin-sun-considers-an-offer-for-ftxs-crypto-assets-to-prevent-potential-market-crash/" rel="noopener noreferrer nofollow"> Justin Sun considers ‘an offer’ for FTX’s crypto assets to prevent potential market crash </a></p>

Justin Sun became largest individual ETH staker

crypto.news

Other articles published on Oct 16, 2023

Bitcoin SV (BSV), Bitcoin Cash (BCH) Pops as BTC ETF Hopes Rise

Bullish Momentum for Bitcoin Price? BlackRock Claims Whale BTC Holding!

Altcoins About to Breakout From Falling Wedge, Will it Spike?

CEX Data in Sep, Spot and Futures Trading Volume Decreases by 19% Month-On-Month, Hitting a Nearl...

US Government Holds More Than $5B in Bitcoin (BTC)

Did SBF and Caroline Ellison Successfully Suppress Bitcoin’s Price?

Join our free newsletter for daily crypto updates!