1. PixelPlaygroundHome
  2. Metaverse Insights

Justin Sun Becomes Top StETH Holder after $144 Million Pledge

• Metaverse Insights • 109 views

It is reported that the Web3 knowledge map protocol 0xscope said on social media that the beginning address of 0x611F controlled by Justin Sun has pledged 8800…

Justin Sun Becomes Top StETH Holder after $144 Million Pledge

It is reported that the Web3 knowledge map protocol 0xscope said on social media that the beginning address of 0x611F controlled by Justin Sun has pledged 88000 Ethereum (worth about $144 million) through Lido, and this address has become the sixth largest holder of stETH.

Justin Sun pledged 88000 Ethereum again through Lido, about $144 million

Interpretation of the news:


In the world of cryptocurrency, web3 technology and ethereum are critical for the operation and management of various digital assets. Reports from social media suggest that the web3 knowledge map protocol 0xscope has revealed some exciting news about Justin Sun’s ethereum holdings.

According to 0xscope, Justin Sun now controls the 0x611F address, where he has pledged 88,000 ethereum worth a staggering $144 million. This was done through Lido, a decentralized platform for staking ethereum. As a result, the address has become the sixth-largest holder of stETH.

This news should come as no surprise, considering Justin Sun’s long-standing involvement in the cryptocurrency industry. He founded Tron, a blockchain-based platform for hosting digital content, and has been actively involved in the development of ethereum-based projects. Justin Sun is also known for his investments and partnerships with other prominent companies in the crypto space.

The pledge made by Justin Sun on Lido is significant as it demonstrates his commitment to the digital asset space and the promotion of cryptocurrency adoption. Lido is a decentralized platform that allows users to stake their ethereum, earning stETH tokens in return. The stETH tokens represent a share in the platform’s ethereum pool, providing a simple and easy way for users to earn passive income from their digital assets.

Moreover, Justin Sun’s pledge adds value to Lido as a platform for staking ethereum, driving up adoption and increasing its credibility as a viable investment vehicle. It also highlights the potential for ethereum within the industry, as prominent figures continue to invest heavily in the digital asset, driving its value up even further.

In conclusion, the news about Justin Sun’s pledge of $144 million worth of ethereum is significant for the cryptocurrency industry, underlining the potential for digital assets like ethereum and driving up adoption. The commitment demonstrated by Justin Sun and the 0x611F address is impressive, and the use of Lido for staking ethereum continues to show the value of decentralized platforms in the world of cryptocurrencies.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/3665/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 02/27/2023 07:21
Next 02/27/2023 07:32

Recommended articles