Justin Sun Deposits 120,000 ETH ($480M) to Etherfi, Becomes 2nd Largest Holder with 15%

In a significant move within the cryptocurrency sector, Tron founder Justin Sun has been identified as making a substantial deposit of 120,000 ether, valued at approximately $480 million, into the liquid restaking protocol etherfi, becoming the 2nd largest holder of $eETH with 15% ownership. This transaction, highlighted by multiple sources including blockchain data and reporting by @oknightcrypto for CoinDesk, marks a notable event in the digital currency space. Additionally, another smart money investor known as 0x11c made headlines by depositing 2,879 ETH (around $11.43M) into Binance, securing a realized profit of approximately $5.44M. This investor still holds 1,704 ETH, with an unrealized profit of $3.23M. The address associated with Justin Sun had previously acquired 173,800 ETH at an average price of $2,869 between February 8 and February 25, now valued at $693 million. This strategic deployment of assets underscores the dynamic and high-stakes nature of cryptocurrency investments and the significant role of etherfi in the ecosystem.