**Justin Sun Moves $150M in Ethereum to Lido as Whale Activity Surges**
Justin Sun, founder of Tron, made headlines this week with a significant Ethereum transfer, sparking interest among on-chain analysts and the broader crypto community. According to data from Arkham Intelligence, Sun withdrew 45,000 ETH—worth approximately $154.5 million—from the lending protocol Aave and deposited the funds into Lido Staking. This move signals renewed confidence in Ethereum’s staking ecosystem among major holders, despite recent market volatility.
### Sun’s ETH Holdings Surpass TRX
Sun’s public wallets now hold around $534 million in ETH, surpassing his $519 million worth of TRX, as revealed by Arkham. His substantial deposit into Lido not only boosts the platform’s staking liquidity but also sends a message of faith in Ethereum at a time when the market is closely watching whale activity and price swings.
### Whale Accumulation on the Rise
Sun’s transactions are part of a broader trend of large-scale Ethereum accumulation. BitMine, a digital asset firm, recently acquired 20,205 ETH (valued at nearly $69.9 million) from exchanges including Coinbase and FalconX, according to blockchain tracker Onchain Lens. Additionally, an unidentified wallet labeled 0xca6 received 4,009 ETH from Galaxy Digital, bringing its total ETH holdings to 13,281—worth over $45.5 million.
This growing concentration of ETH among whales and institutional players has caught analysts’ attention, especially as Ethereum’s price continues to fluctuate.
### Ethereum Price Outlook
At the time of writing, Ethereum trades near $3,389.30, with daily trading volume hovering around $34.7 billion, according to CoinGecko. The token gained about 2.09% over the past 24 hours but remains down 12.38% for the week, underscoring the current volatility.
Market analyst Yimin X suggests Ethereum could still face further downside, pointing to a possible five-wave correction that might push the price toward $2,600—a level of significant historical volume support. Traders are monitoring this area for potential short-term bounces, with resistance near $3,500 also in focus.
### Conclusion
The recent flurry of high-profile Ethereum transfers, led by Justin Sun and supported by other large holders, highlights growing institutional interest in ETH even amid market uncertainty. As analysts debate whether the token has reached a local bottom, all eyes remain on whale behavior and key price levels in the days ahead.
https://bitcoinethereumnews.com/ethereum/justin-sun-moves-150m-in-ethereum-to-lido-as-whale-activity-surges/