$244.9m Ethereum moved by Justin Sun on Christmas Eve HTX

Tron founder Justin Sun sent 70,182 Ethereum worth $244.9 million to HTX on Christmas Eve.

The transfer reported by Spot On Chain consists of 42,905 Ethereum (ETH) from Lido Finance, a decentralized liquid staking protocol. Sun also transferred 27,277 ETH from Etherfi. The new transaction brings Sun’s total deposits with HTX (formerly Huobi) at the end of last month to 179,101 ETH, worth $645 million, at an average price of $3,601 per ETH.

Justin Sun (@justinsuntron) just transferred 70,182 $ETH ($244.9M) to #HTX on Christmas Eve, including 42,905 ETH unstaked from Lido Finance and 27,277 ETH from Etherfi.

Since Nov 10, he has deposited 179,101 $ETH ($645M) to HTX at an average price of $3,601, often near local… https://t.co/pFY9n2yI8k pic.twitter.com/QhMcgkHeXS

— Spot On Chain (@spotonchain) December 25, 2024

Two days ago, on December 23, Justin Sun purchased 39,999 ETH from Lido Finance and Etherfi for $143 million and deposited the entire amount into HTX. This brings its total deposits with HTX since November 10 to 108,919 ETH worth $400 million, with an average purchase price of $3,674. The uncommitted process for an additional 42,904 ETH, equivalent to approximately $139 million, was still ongoing at Lido Finance at the time. The staking process has now partially concluded with a Christmas Eve transaction.

On December 16, Sun requested a withdrawal of 52,905 ETH worth $209 million from Lido Finance. This transaction is part of a larger plan that involved purchasing 392,474 ETH at an average rate of $3,027 per ETH between February and August, yielding a 29% profit.

As previously reported, on October 4, 2023, Sun purchased 80,251 ETH worth $131 million from Lido Finance and transferred them to Binance. This move came days before the price of ETH fell by 5% by mid-October. Sun holds significant Ethereum-related holdings, including 106,905 staked tokens worth $372.4 million and 56,277 ETH derivative tokens worth $195.8 million.