Justin Sun pledged 88000 Ethereum again through Lido, about $144 million

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.

Interpretation of this information:

The Web3 knowledge map protocol 0xscope has recently reported on social media that the initial address of 0x611F controlled by Justin Sun has pledged 88000 Ethereum, which roughly equates to $144 million. This pledge has been made through Lido, a decentralized platform. With this move, the said address has now become the sixth-largest holder of stETH.

There are a few interpretations we can take from this message. Firstly, it signals the increasing popularity of decentralized finance (DeFi) platforms like Lido. Lido offers stakers an opportunity to earn stETH by locking up their ETH, while allowing them to retain their voting rights. DeFi platforms have gained popularity over the past year, as they offer more accessible and transparent financial options for users around the world.

Another interpretation is that Justin Sun is betting big on the Ethereum network. Although Sun is best known for his role in founding the TRON blockchain network, this move shows that he is diversifying his investments across various networks. His pledge of 88000 Ethereum suggests that he believes in the long-term potential of the Ethereum blockchain and its associated DeFi platforms.

However, some critics argue that this move by Sun is simply an attempt to diversify his portfolio, rather than a true belief in the potential of DeFi platforms. This argument is supported by Sun’s history of making grandiose statements on social media, which have often been criticized or proven false.

In summary, Justin Sun’s pledge of 88000 Ethereum through Lido has attracted attention from the crypto community. It highlights the increasing popularity of DeFi platforms, as well as Sun’s interest in diversifying his investments. However, some critics remain skeptical of Sun’s true intentions behind this move.