In a bold move that has reshaped his substantial crypto portfolio, Tron founder Justin Sun executed a significant contrarian trade by staking a massive amount of Ethereum (ETH). This strategic decision, made amidst a market downturn, not only signals a profound long-term conviction in Ethereum but also dramatically altered the composition of his digital asset holdings, placing ETH at the forefront.
A Definitive Shift: Ethereum Surpasses Tron
On November 5th, Justin Sun made headlines by withdrawing 45,000 ETH, valued at $154.5 million, from the Aave lending protocol and immediately deploying it into Lido's liquid staking service. This monumental transaction propelled his total Ethereum holdings to $534 million, officially surpassing his $519 million investment in Tron's native token, TRX. This shift is a powerful endorsement of a competing blockchain, demonstrating Sun's strong belief in Ethereum's future prospects and the allure of generating a consistent 3-4% annual yield through staking, which locks up assets for a committed, bullish position.
Masterful Timing: Buying the Dip Amidst Panic
Sun's timing was particularly striking, highlighting a classic contrarian strategy. He committed over $150 million to Ethereum staking precisely when the crypto market experienced a significant crash, with ETH plummeting 12% to $3,166 and the broader market shedding $230 billion in just 48 hours. While retail investors panicked and withdrew, Sun seized the opportunity to accumulate. Data from Glassnode further underscores the sagacity of his move, revealing that his 45,000 ETH stake occurred when new Ethereum staking activity had hit multi-month lows, mirroring historical bottom formations. By choosing Lido, Sun also ensured flexibility, receiving liquid STETH tokens that can be traded or used as DeFi collateral while still accruing staking rewards, maintaining capital efficiency even with the lock-up.
