Justin Sun Dominates Swell L2 with 46% of Deposits in eETH

Justin Sun, founder of Tron, has again surged into the limelight, this time for his colossal cryptocurrency deposits. The crypto tycoon, utilizing the pseudonymous address "0x7a9…3095," recently funneled a staggering 120,000 eETH into Swell L2, a liquid restaking protocol. This move represents 46.6% of Swell L2's total deposits, sparking intrigue and speculation within the cryptocurrency community.

Justin Sun's Strategic Moves: Insights into Ethereum-Based Investments and Liquid Restaking Strategies

In a recent report by CoinGape, Justin Sun is known to have a strong preference for Ethereum-based digital currencies. He is recognized for conducting large transactions with Ethereum (ETH), Shiba Inu (SHIB), and other cryptocurrencies.

According to the most recent transactions, Justin Sun transferred funds into Swell L2 on May 4. The eETH deposited into the protocol was worth around $376 million. This statistic represents 46.6% of Swell L2's total deposits since inception.

Justin Sun recently discussed his thoughts on his perceived investments in staking and liquid restaking platforms. He dismissed the talk about him profiting from significant trades in his conversation. The Tron founder stated that he solely advises liquid restaking teams.

He outlined his vision for passive income ventures, stating that they have the potential to grow globally. He believes these platforms can become mainstream and serve as crucial revenue streams for international businesses and institutions.

He anticipates these groups will embrace staking and restaking, reinvesting profits to support users. The support may also extend to developers and the community, fostering prosperity and cooperation.

Whether Justin Sun was referring to a specific protocol or, in broad terms, must be clarified. The funding injection into Swell L2 indicates that he may act on his visions.

Rising Stars in Liquid Restaking: Ether.fi and EigenLayer Lead the Charge in DeFi Landscape

With the ongoing expansion of the broader digital currency ecosystem, Ethereum-based liquid trading enterprises are taking center stage.

Ether. fi and EigenLayer are at the forefront of the liquid restaking niche. EigenLayer now ranks as the second-largest Decentralized Finance (DeFi) protocol, with $15.53 billion in Total Value Locked (TVL). Only Lido, a liquid staking mechanism with $29.48 billion in TVL, outperforms EigenLayer.

This rapid rise, particularly for a system ready to launch its native token EIGEN, demonstrates how the the public mood has evolved toward various types of staking operations.

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