Ethereum worth $244.9 million was moved by Justin Sun on HTX Christmas Eve

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

The transfer, reported by Spot On Chain, consists of 42,905 Ethereum (Ethereum) without staking from Lido Finance, a decentralized liquid staking protocol. Sun also transferred 27,277 ETH from Ethereal. The new deal brought Sun’s total incoming deposits to 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.

Two days ago, on December 23, Justin Sun redeemed 39,999 ETH for $143 million from Lido Finance and Etherfi and deposited the entire amount into HTX. This took his total deposits to Cooperative Since November 10, there have been 108,919 ETH, worth $400 million, with an average purchase price of $3,674. The incomplete process to acquire an additional 42,904 Ethereum, equivalent to about $139 million, was still ongoing at Lido Finance at the time. The dismantling process has now partly culminated in the Christmas Eve deal.

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

Sun acquired 80,251 ETH, worth $131 million, from… Lido Finance and poured it into Binance on October 4, 2023, as I mentioned previously. The move came days before the price of ETH fell nearly 5% by mid-October. Sun holds significant assets tied to Ethereum, including 106,905 tokens worth $372.4 million and 56,277 ETH-derived tokens worth $195.8 million.