Justin Sun is the Largest ETH Staker

Justin Sun, the founder of Tron, holds the largest individual Ethereum stake of 282,796 ETH, worth $447 million.

Oct 16, 2023 - 13:33
Oct 16, 2023 - 13:32
Justin Sun is the Largest ETH Staker
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According to reports by journalist Colin Wu, an Ethereum address associated with Justin Sun has been identified as the largest individual ETH staker. This particular wallet has a staggering 282,796 ETH, which equates to approximately $447 million at the time of the report. 

Earlier in the month, Sun made notable transactions involving Ethereum. He unstaked a substantial amount of $32.4 million worth of ETH. Specifically, on October 4, Sun withdrew 19,999 staked ETH from the Lido Finance platform, transferring them to the Binance exchange. This has led to speculations about Sun's intentions, with some suggesting that he might have sold these digital assets or is planning to do so soon.

Lido Finance, where Sun has staked a significant portion of his Ethereum, introduced a security feature in early 2023 called the Staking Rate Limit. This decision was made after the platform witnessed its most substantial daily inflow of 150,000 ETH. The Staking Rate Limit essentially caps the amount of Staked Ether (StETH) that can be mined based on deposits made in the previous 24 hours. Interestingly, at the time this cap was introduced, Sun had already staked more than 150,000 ETH on Lido.

While Sun's Ethereum staking has been the talk of the town, it's worth noting his position in the world of Bitcoin (BTC) as well. Sun has been transparent about where he stores his bitcoins. For a decade, since the inception of the Huobi cryptocurrency exchange, Sun has kept all his BTC on the platform. He once mentioned that he held control over more than 100,000 bitcoins.

Philip Bohmer Philip is a seasoned journalist that brings clarity to the complex world of cryptocurrencies through his articulate and insightful articles. His passion for blockchain technology fuels his writing, making him a trusted voice in the rapidly evolving digital currency landscape.