Tron Founder's Ethereum Embrace

Justin Sun, the founder of Tron, has once again made headlines with his significant crypto deposit activities. The crypto whale's address "0x7a9…3095" recently transferred a staggering 120,000 eETH, worth approximately $376 million, into the liquid restaking protocol Swell L2.

Dominating Swell L2's Deposits

This massive deposit accounts for a remarkable 46.6% of the total deposits recorded by Swell L2 since its inception. Justin Sun's involvement in the protocol has sparked discussions about his perceived investments in staking and liquid restaking platforms.

Advisor or Investor?

While Sun has downplayed the notion of profiting from these large transactions, he has expressed his vision for such passive income ventures. He believes these platforms have the potential to go mainstream, serving as important revenue avenues for international companies and institutions.

Liquid Restaking Protocols on the Rise

The broader digital currency ecosystem is witnessing the growing prominence of Ethereum-based liquid restaking protocols. Protocols like Ether.fi and EigenLayer are leading the charge, with EigenLayer emerging as the second-largest Decentralized Finance (DeFi) protocol, with a Total Value Locked (TVL) of $15.53 billion.

Fostering Prosperity and Cooperation

Sun envisions these liquid restaking platforms as a means to support users, developers, and the broader community, fostering prosperity and cooperation within the crypto ecosystem. The influx of funds from crypto whales like Justin Sun underscores the increasing traction and significance of these innovative financial instruments.