Founder Block-startup TRON Justin Sun dared to bet $154,7 million on Ethereum’s price to rise despite the bearish trend.
Employees of the research company Arkham found out that on the evening of November 5, Moscow time, Sun withdrew 45,000 ETH worth $154,7 million at the exchange rate at that time from the AAVE lending platform, and sent the coins to DeFi Lido Staking and staking them to earn a return of 2,66% per annum.
Transactions performed by Justin
Due to the downward trend that began in September, the number of Ethereums waiting to be unlocked has become significantly higher than the number of digital assets that want to be sent to stakingValidators have currently submitted requests to withdraw 2,27 million ETH and lock 1,44 million ETH, representing a 36,6% difference.
Change in the amount of Ethereum to be unlocked (red line) and staked (blue)
It’s safe to assume that most stakers are looking to sell their coins before their price drops further. Sun, on the other hand, is among those willing to hold the cryptocurrency, apparently hoping for a market reversal. However, the chart shows no signs of ending the bearish trend. On the contrary, the downward movement accelerated in November, and ETH recently dropped to nearly $3,000.