Justin Sun, the founder of Tron (TRX), has suddenly moved a hefty sum of Ethereum (ETH) worth $132 million.
The unexpected shift of crypto assets was first detected by on-chain data tracker Lookonchain. Sun is reportedly withdrawing the Ethereum from liquid staking service provider Lido (LDO), with 43,000 ETH ($70 million) already successfully deposited to Binance.
This move hints that Sun’s Ethereum could be sold on the open market, as it has been sent to a crypto exchange.
The on-chain data tracker is also monitoring the movement of a crypto address linked to Ethereum co-creator Vitalik Buterin. The address is speculated to be depositing 1,000 ETH worth $1.64 million to crypto exchange Bitstamp. Over the past two months, a total of 4,400 ETH ($7.23 million) has been deposited to Bitstamp from this account.
As of writing, Ethereum is trading at $1,628.83, marking a slight decrease of less than 1% in the last 24 hours.
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