Justin Sun Continues to Accumulate Billions of Dollars of Ethereum (ETH) and Associated Tokens, Making HTX His Platform of Choice

Founder of TRON, Justin Sun, made several large deposits into the HTX exchange. In total, Sun deposited $320.4 million worth of Ethereum (ETH) and two associated tokens, $ETHFI and $EIGEN.

According to Spot On Chain, over the past 13 hours, Sun transferred the following assets to HTX:

96,591 ETH ($316M) at an average price of $3,275,

1.864 million $ETHFI ($3.54M) at an average price of $1.9,

260,728 $EIGEN ($832K) at an average price of $3.191

This influx of tokens highlights Sun's continued involvement in the crypto market, particularly his strategic use of HTX. The recent deposit is a part of a larger trend where, since November 10, Sun has sent over 323,591 ETH ($1.124 billion) to HTX at an average price of $3,472 per ETH. The majority of these assets were acquired at an average price of $3,036 earlier in 2024.

Sun's deposits have been strategically timed, often occurring near local price peaks. This suggests that Sun is closely monitoring market trends and aiming to capitalize on favorable conditions. In addition to his ETH holdings, Sun's involvement with the $ETHFI and $EIGEN tokens further diversifies his portfolio and exposure within the broader crypto ecosystem.

In addition to his deposits, Sun has also made significant moves to unstake portions of his ETH holdings. He recently requested to unstake 96,580 ETH ($322.7M) from both Lido Finance and Etherfi, likely for further deposits into HTX. This unstaking activity is expected to continue, as Sun has repeatedly demonstrated a preference for HTX as his platform of choice for asset management.

On Christmas Eve, Sun transferred 70,182 ETH ($244.9M) to HTX, including 42,905 ETH unstaked from Lido Finance and 27,277 ETH from Etherfi. This particular transfer adds to his growing presence on the platform and underscores his strategy of maintaining liquidity and flexibility in his crypto investments.

Despite his aggressive strategy of depositing ETH into HTX, Sun retains a significant portion of his holdings outside the exchange. As of now, Sun holds 106,905 $STETH ($372.4M) and 56,277 $EETH ($195.8M). These tokens are primarily staked, with 25,000 $ETH ($87M) being unstaked from Etherfi for potential use in future transactions.