Justin Sun’s ETH Staking on Lido: $154.5M Signals Bullish
Tron founder Justin Sun has moved 45,000 ETH (≈$154.5M) from AAVE to Lido, staking it as stETH. On-chain data from Arkham Intelligence and Nansen show his public wallet holds $2.57B in crypto: 2.4B TRX ($702.2M), $483.7M in stETH, $400M USDT and various AAVE and WLFI tokens. This ETH staking action, part of an internal wallet restructure, briefly pushed his ETH holdings to $534M, surpassing his $519M TRX balance. Traders interpret this shift from lending to staking as a long-term bullish signal for Ethereum, especially after ETH fell from $4,100 to $3,400. The move follows his July transfer of 50,600 ETH to Binance during a whale accumulation phase. ETH staking reduces circulating supply and highlights confidence in Ethereum’s network security and yield prospects.
Bullish
Justin Sun’s large ETH staking deposit on Lido reduces Ethereum’s circulating supply and shifts his assets toward yield-generating positions. Historically, major staking moves by institutional players have supported price stability and upside momentum. In the short term, staking can limit sell pressure, bolstering ETH’s price around current levels. Over the long term, continued confidence in staking and network security is likely to attract more investors and strengthen Ethereum’s market position, reinforcing a bullish outlook.