Justin Sun, founder of Tron, has staked millions of Ethereum (ETH) on Ethereum liquid staking Platform Lido Finance in advance the most-awaited Ethereum Shanghai Upgrade in March.
On-chain data platform Lookonchain revealed that Justin Sun, an address marked as Justin Sun, staked 150.100 ETH worth more than $240 million on Lido on February 25. DeBand wallet details reveal 3 transactions, with 50,000 ETH being transferred to Lido today and 100 ETH being moved to Lido around 07:20 UTC.

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Whale Alert platform also reported three transactions totaling 50,000 ETH, each worth 80,077.036 each, which were transferred from Justin Sun into an unknown wallet.
It is a simple matter of course that Justin Sun stakes large amounts of Ethereum to the Lido liquid staking pool. This shows Justin Sun is optimistic about the Ethereum Shanghai upgrade and wants the opportunity. As the Shanghai upgrade draws near, Ethereum staking continues its rise.
Justin Sun received an equal amount stETH which can be traded, borrowed against, borrowed against, or used to any other liquidity purpose.
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According to the latest on-chain data, more than 17.02 million Ethereum worth $27.27 billion were deposited into Beacon Chain. Ethereum core developers must allow withdrawals to maintain a balance. While ETH staking is increasing on the Beacon Chain, it also indicates Ethereum security and adoption.
Nansen data indicates that there are approximately 96.9K unique staking depositors. BeaconScan data shows that there are approximately 525,923 active validators.

Ethereum Foundation had earlier announced that the Shapella/Capella network upgrade will be activated via the Sepolia testnet at block 56832. This is expected to happen at 04:04.48 UTC on February 28, 2018. It will allow validators to withdraw their Ethereum staked in the Beacon Chain to be transferred to the execution layer.
The Ethereum price dropped over 3% in the past 24 hours. ETH is currently trading below $1,600. The low and high for the 24-hour are $1,583 & $1,652, respectively. After Friday’s U.S. inflation data, the crypto market experienced a freefall.
Also read: Did Charles Hoskinson, Cardano founder, Really Buy Warner Bros Discovery’s CNN

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