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Khyathi Dalal

Justin Sun Moves Millions In ETH To Lido, Sparking Price Drop Concerns

Justin Sun Lido ETH Tron Crypto Huobi

Justin Sun Yuchen, founder of Tron and CEO of BitTorrent, speaks during Ifeng Finance Summit. Justin Sun transferred 4,500 ETH from the Huobi exchange and staked it on the Lido platform.JIANG XIN/VISUAL CHINA GROUP VIA GETTY IMAGES.

Tron founder Justin Sun transferred 4,500 ETH (worth $6.96 million) from the Huobi exchange( a cryptocurrency exchange situated in the Seychelles) and staked it on the Lido platform.

In the last week, Sun applied to withdraw 80,251 ETH (worth $132 million) and transfer it to Lido, based on Crypto tracker, Lookonchain data. The cryptocurrency entrepreneur has already taken 43K ETH (worth $70 million) and deposited the tokens to Binance.

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One subscription that gives you access to news from hundreds of sites

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