Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Justin Sun Withdrew $209M in ETH from Lido Finance - Will the Altcoin Price Fall?

Justin Sun Withdrew $209M in ETH from Lido Finance - Will the Altcoin Price Fall?

HappyCoinNewsHappyCoinNews2024/12/17 12:33
By:HappyCoinNews

Justin Sun recently withdrew 52 ETH from a liquid staking protocol Lido Finance approximately yf $209 million. Members of the crypto community have already expressed concern that such activity of the blockchain founder Tron may impact the ETH market.

According to blockchain analytics firm Spot On Chain, Sun has amassed 392 ETH across three wallets. These assets are now valued at $474 million.

Blockchain Founder Tron made several large transactions between February and August 2024. In October last year, Sun transferred 80 ETH (then worth $251 million) from Lido to the crypto exchange Binance . After this transaction the price Ethereum fell 5%.

A new large transfer may also have a negative impact on the leading altcoin’s rate, cryptocurrency analysts believe. Despite the fact that since the beginning of the year the rate Ethereum up nearly 71,5%, it underperformed compared to Bitcoin, which rose an impressive 142% over the same period.

Other indicators Ethereum cause optimism. For example, the total locked value ( T ) the leading altcoin has grown by $2,22 billion over the past week, slightly behind Bitcoin's $3,09 billion gain.

From December 9 to December 13, net capital inflows into ETFs on the fundamentals Ethereum amounted to $855 billion, which became a record figure for the week.

Technical patterns on the ETH chart also give investors reason to be optimistic. Currently Altcoyin formed a "golden cross" that was last recorded in 2021, shortly before эфириум grew by 200% in less than 10 weeks.

EN @happycoinnews
EN @happycoinnews_en
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like