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Justin Sun’s 0x611F Ethereum Address Becomes Sixth Largest Holder of stETH

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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’s 0x611F Ethereum Address Becomes Sixth Largest Holder of stETH

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

Interpret the above information:


The Web3 knowledge map protocol, 0xScope, recently made an announcement on social media stating that Justin Sun’s beginning address, 0x611F, has pledged a significant amount of Ethereum. The amount pledged amounts to 88,000 Ethereum, which has an approximate value of $144 million. The pledge was made through Lido, an Ethereum liquidity protocol. Due to Justin Sun’s pledge, his address has now become the sixth-largest holder of stETH.

The announcement appears to shed more light on the latest developments in the Ethereum space, particularly on how Justin Sun has chosen to leverage his cryptocurrency assets. It is not the first time that Justin Sun has been in the news for his crypto investments, as he has been known for his aggressive acquisitions of various cryptocurrencies.

Notably, Justin Sun had acquired Steemit in 2020, as well as BitTorrent Inc, a decentralized file-sharing company. Justin Sun is also the founder of TRON, one of the largest blockchain networks known for its fast transaction speed and low power requirements.

The fact that Justin Sun has chosen to pledge such an enormous sum of Ethereum through Lido shows the immense trust he has in the platform. It also reflects his vision for where the crypto space is headed. Just a few years ago, cryptocurrency was still viewed with major skepticism, but the adoption of cryptocurrencies such as Ethereum has grown exponentially over the years.

The development of Lido, which is a liquidity protocol built on top of Ethereum, reflects the potential that the blockchain has as a reliable investment option. Lido provides a platform for users to stake their Ethereum coins and secure returns on their holdings. In turn, investors can also access staked Ethereum tokens, also known as stETH, and use them for additional investments or trading.

In conclusion, Justin Sun’s pledge of 88,000 Ethereum has not only increased his crypto portfolio but has also put the Lido protocol among the leading Ethereum liquidity options. It also shows how influential individuals like Justin Sun are taking cryptocurrencies seriously and investing heavily in their development.

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