According to information shared by Spot on Chain, controversial figure in the cryptocurrency industry, Tron founder Sun Yuchen, redeemed 39999 ETH (approximately $143 million) from staking agreements Lido Finance and Etherfi in the past 7 days, and subsequently deposited all of it into the HTX exchange.
According to historical records, from February to August this year, Sun Yuchen accumulated 392747 ETH at an average price of $3027 and pledged it. However, starting from November 10th, Sun Yuchen gradually withdrew Ethereum from the staking agreement in batches and transferred Ethereum to the HTX exchange.
Since November 10th, as ETH prices began to rise, he has deposited 108919 ETH (approximately $400 million) into HTX at an average price of $3674. At present, he still has 42904 ETH (approximately $139 million) undergoing the staking process in Lido, which is likely to be re deposited into HTX and released into the secondary market soon.
It is worth mentioning that although there are many controversies surrounding Sun Yuchen's behavior and remarks in the industry, he is a well-known top flight expert. In addition to selling over 100000 ether coins at a price of $3674 in the past month, another recent example occurred in June and July 2023, when he sold 39000 ether coins at an average price of around $1870. Later, the price of ether coins continued to decline, dropping as low as $1500.