Justin Sun Redeems 10,000 ETH from Lido Since August 26

Justin Sun has redeemed a total of 10,000 Ethereum (ETH) from Lido since August 26. The movement and usage of the recently redeemed 5,000 ETH remain unconfirmed. According to on-chain analyst Ai Yi's monitoring, Sun had also applied for the redemption of 5,000 ETH on August 26. The previously redeemed 5,000 ETH was deposited into Poloniex in two transactions, with the deposit price recorded at $2,481 per ETH, totaling approximately $12.3 million (around 1.65 billion KRW). Lido users deposit ETH and receive corresponding staking-linked tokens, stETH, and can reclaim the underlying asset, ETH, through a withdrawal request process. Sun's wallet currently holds about 238,000 stETH, valued at $59.4 million (approximately 799 billion KRW), making it the second-largest holding among his on-chain assets. It is difficult to determine any changes in selling or investment strategies based solely on this redemption, and the possibility of further redemptions and the movement of the redeemed ETH are expected to be confirmed through subsequent transaction records.

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