Justin Sun is the largest individual staked ether holder ⦁ Hi | Crypto News Magazine

Justin Sun is the largest individual staked ether holder

⦁ His balance on Lido, the largest liquid-staking protocol, is now nearly $500 million

⦁ On Saturday, Lido saw a $240 million inflow in the form of 150,000 $ETH in a series of transactions evidently by Sun. It is its largest daily stake inflow to date

⦁ After that, Lido activated a new safety feature, the Staking Rate Limit (the daily cap is set at 150,000 ether)

⦁ The value of assets in liquid-staking protocols is $14.22 billion now, which is just behind the $19.32 billion at decentralized exchanges

⦁ Liquid staking has replaced the lending and borrowing business as the second-largest sector of DeFi, following several high-profile failures of companies in that sphere last year

⦁ Lido's total deposits now total $9.3 billion