Crypto
Justin Sun Surpasses Ethereum Foundation with Record-Breaking ETH Holdings
Justin Sun has made another significant move in the Ethereum (ETH) market by redeeming 5,000 ETH from Lido.
According to on-chain analyst Ai Yi, who was monitoring the situation, Justin Sun sent 3,500 of these redeemed ETH to an exchange, which then deposited them into a hot wallet address with unknown purpose.
The remaining 1,500 ETH were deposited into Morpho.
This move has seen Justin Sun's overall holdings surpass those of the Ethereum Foundation, ranking him fourth among ETH holding entities, with over $600 million worth of assets.