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Over the past 30 days, the Total Locked Value (TVL) in the Lido Finance Liquid Staking Protocol has increased by 10.57%, 7.56% of the increase over the last 7 days. The predominance of protocol in decentralised finance (challenge) has also increased, with its tvl representing 19.08% of the 49.66 billion dollars enclosed in challenge today. Whereas the increase of ether prices contributed to the increase of tvl, Lido liquid staking program would have received a total deposition of at least 303,000 founding tron ether justin sun.
Onchain Data Shows Tron Founder Justin Sun Bolstered Lido’s TVL
Lido, the liquid staking protocol, has seen a 7.56% rise over the past week, with a total value locked (TVL) of $9.48 billion as of March 2, 2023. Lido’s web portal, , shows that $9.3 billion of the TVL consists of ethereum (ETH) deposits. The total value locked on the lido, including crypto assets such as soil, matic, dot and ksm, represents 19.08% of the 49.66 billion dollars blocked today.
Lido is at present the most important challenge protocol in terms of tvl, followed by makerdao, curve, and aave. Out of the 7,607,536 Ether ($12.44B) locked in liquid staking platforms, Lido commands 74.87% of the total value. In terms of liquid sequencing protocols, the lido is followed by the ether protocol wrapped in the currency base, rocketpool, frax ether and stake.
One factor contributing to the increase in value locked is the 3.8% rise in the price of ether against the U.S. dollar, which has contributed to the growing value of Lido’s staked ether (STETH). However, the protocol has also seen a significant amount of inflow this week, and onchain data shows that Tron founder Justin Sun ostensibly deposited at least 303,000 ether into Lido.
Bitcoin.com News reported on the initial 150,000 ether reportedly deposited by the founder of Tron. Blockchain analysis and security auditfirm peckshield that after the 150,000 ether deposit, addresses labeled in sun name's added more ethereum to the lido protocol. Some people speculated that, including the initial deposit and subsequent deposits, the Tron founder’s inflow into Lido amounted to 210,100 ether.
However, according to transaction data shown by the onchain analytics tool Arkham Intelligence, Sun’s total staked ether may be much more than 210,000 ETH. Arkham’s transaction analysis indicates that Sun holds a total of 303,660 STETH, which is worth $494 million based on STETH exchange rates on March 2, 2023.
In addition to STETH, Sun’s labeled addresses show that he also holds 25,657 ethereum (ETH), worth $41.64 million. The lido currently offers a yearly estimated rate of return (apy) of 4%. It means that if the addresses belong to Sun, the founder of tron earns 4% interest on nearly half a billion dollars of ether staked.
How about the lido deposits and Justin Sun's lido bump this week? Reflect on these in the comments section below.
