Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance
Justin Sun has unstaked 52,905 ETH, valued at approximately $209 million, from Lido Finance, raising concerns about potential sell-offs impacting Ethereum's price. Sun's total Ethereum purchases from February to August 2024 amounted to 392,474 ETH, worth $1.19 billion, yielding a profit of $349 million. On October 24, he unstaked 80,251 ETH, transferring it to Binance before a 5% price drop. Sun has a history of cashing in Ethereum during market rallies, including depositing 19,000 ETH to HTX and transferring 29,920 ETH after prices exceeded $4,000. Large-scale liquidations historically trigger price crashes, and further sell-offs could increase market volatility. Despite recent price stability, with a 7% increase over the past week and a 28% rise in the last month, uncertainty remains regarding Sun's future actions.
