Justin Sun Stakes 14k ETH on Lido, Deposits 110k ETH on EigenLayer
CryptoNewsTerminal Staff18 Sep, 2024
Justin Sun Stakes 14k ETH on Lido, Deposits 110k ETH on EigenLayer
Justin Sun stakes 14k ETH on Lido, deposits 110k ETH on EigenLayer On-chain analyst ai_9684xtpa reported on Twitter that "an address believed to be that of Justin Sun, founder of Tron (TRX), staked 14,000 ETH ($32.23 million) on the crypto staking platform Lido (LDO) 15 minutes ago, and deposited 110,705 ETH ($254 million) on liquid staking protocol EigenLayer." This development indicates that Justin Sun is bullish on the long-term prospects of Ethereum and is willing to stake a significant amount of ETH to earn rewards and support the network's security. Lido is the largest liquid staking platform for ETH, allowing users to earn staking rewards without locking up their assets. EigenLayer is a more recent entrant into the liquid staking space, offering users the ability to stake their ETH while still maintaining access to their funds. This move by Sun is a significant sign of confidence in the Ethereum ecosystem and is likely to encourage other investors to stake their ETH as well. It also highlights the growing popularity of liquid staking protocols, which offer users a more flexible and accessible way to participate in the staking process.
