"Maybe because he sees this service as the best."
Cryptocurrency billionaire Justin Sun who is the founder of Tron (TRX) sent hundreds of thousands of Ethereum (ETH) to liquid staking service company Lido Finance (LDO).
It is reported that Sun not only staked 150,100 ETH worth $240 million on Lido Finance in one transaction a few days ago but also staked 200,164 digital assets worth $327 million.
It is already known that he has held more than $50 million in stablecoin Tether (USDT) and USD Coin (USDC) on the decentralized lending protocol, Aave (AAVE).
Meanwhile, LDO price during this period decreased by 3.11% at the level of $3.09 in the last 24 hours with a market capital of $2 billion and managed to gain around 12.17% during the last week.
LDO recently also intends to activate a security protocol feature called Staking Rate Limit that can serve to set daily inflow records.
The security feature of the protocol is a dynamic mechanism that can provide various benefits such as dealing with side effects, including rewards dilution*.
*Loss suffered by the owner upon the creation of new ownership units such as shares or tokens
It is well known that most users will not be affected as the Staking Rate Limit can reduce the amount of stETH that can be minted at any one time based on the latest deposits and then add capacity to each block.
