Justin Sun Boosts Investment in LRT Sector with 120,000 ETH Pledge to ether.fi

Justin Sun, the founder of the Tron blockchain, continues to demonstrate his confidence in the "Liquid staking rehypothecation token" (LRT) sector with a substantial investment in ether.fi. Last month, Sun made headlines by pledging significant sums to projects within the sector, including 58,000 stETH tokens to Puffer Finance and 104,001 stETH tokens to EigenLayer, totaling hundreds of millions of dollars.

Sun's Remarkable Investment: Pledging 120,000 ETH to ether.fi Signals Confidence in LRT Sector

On March 13th, Sun pledged a staggering 120,000 ETH to ether.fi, surpassing his previous investments in Puffer Finance and EigenLayer. This move, as highlighted by on-chain analyst Ashes Monitor, underscores Sun's strong belief in the potential of the LRT sector.

Sun's Strategic Acquisition: Insights into ETH Purchases and Unrealized Gains for ether.fi Investment

According to Ashes Monitor, Sun acquired the ETH for this pledge between February 8th and February 25th. During this period, he withdrew funds from centralized exchanges and purchased a total of 173,800 ETH at an average price of $2,869. With the current ETH price hovering around $3,900, the value of Sun's investment stands at $678 million, marking unrealized profits of $179 million and a return rate of nearly 36%.

Ashes monitored Sun's investment of 120,000 ETH into the ether.fi address

Exploring ether.fi: The Leading Ethereum Liquidity Rehypothecation Protocol with Unique Features

ether.fi stands out as the largest Ethereum liquidity rehypothecation protocol, boasting a Total Value Locked (TVL) exceeding $3.1 billion, more than double that of Puffer Finance. Its appeal lies in its unique features, including support for ETH redemption and the ability for pledgers to earn quadruple rewards:

1. Ethereum PoS pledging revenue
2. EigenLayer rehypothecation revenue (yet to commence)
3. ether.fi platform points for future airdrops
4. EigenLayer platform points for future airdrops

Ether.fi Secures $27 Million in Financing Round Led by Bullish and CoinFund

On February 27th, ether.fi concluded a $27 million financing round led by Bullish and CoinFund, following a previous seed round of $5.3 million led by North Island Ventures, Chapter One, and Node Capital, with participation from BitMex founder Arthur Hayes.