On-chain data shows that Tron () founder Justin Sun is suddenly relocating hundreds of millions of dollars worth of Ethereum (
Crypto tracker Lookonchain initially spotted Sun’s series of ETH transactions to the tune of $132 million.
According to Lookonchain, Sun is withdrawing the massive Ethereum trove to the tune of 80,251 ETH from the liquid staking service provider Lido (
“So far, he has successfully withdrawn 43,000 ETH ($70 million) and deposited it to Binance.”
Since Sun sent his ETH stack to a crypto exchange, it could potentially be sold on the open market.
Lookonchain is also watching the movement of a crypto address associated with Ethereum co-creator Vitalik Buterin. The on-chain data tracker that the address could be depositing 1,000 ETH worth $1.64 million to crypto exchange Bitstamp.
“This address has deposited a total of 4,400 ETH ($7.23 million) to Bitstamp in the past two months.
This address received 70,000 ($115 million) from Vb3 and is believed to be related to vitalik.eth (may be the address of vitalik.eth).
At time of writing, Ethereum is trading for $1,628.83, down less than 1% in the last 24 hours. The second-largest crypto asset remains 66.51% down from its all-time high of $4,878 which it hit in November 2021.
