On Saturday, liquid staking protocol Lido tweeted about the largest one-day stake inflow to date, with 150,000 ethereum staked. Reportedly, over $240 million worth of Ethereum belonged to Justin Sun, founder of Tron.
Liquid staking protocol Lido recorded 150,000 ethereum flows
Lido, the liquid staking platform with the highest locked in value of Ethereum (ETH), noted that it received its largest daily stake inflow to date with 150,000 Ether worth $240 million.” The Lido protocol recorded its largest one-day stake inflow to date with over 150,000ETHstaked,” Lidosaid. “Once this number was reached, a curious (but important) protocol safety feature called the Staking Rate Limit was activated.”
Lido said the Staking Rate Limit is a dynamic mechanism that manages large inflow spikes by reducing the potential for value dilution without explicitly suspending stake deposits. Statistics show that in the past 24 hours, the Lido’s Total Value Lock (TVL) experienced a spike of 2.09%. Last month, the Lido’s TVL increased 9.02% to$8.93 billion
Tron founders reportedly deposited Ether
Of the $8.93 billion total, $8.7 billion was staked ether (STETH), the 12th largest crypto asset by market cap; according to Dragonfly Capital researcher and data analyst Hildobby, 150,000ETH to Lidodeposits were reportedly made by Justin Sun of Tron.
“Today, [Justin Sun] bet 150K [ether] through [Lido Finance] (~0.9% of allETHwagered). This is currently the highest week by amount staked in almost a year,” said Hildobby . “This is currently the largest daily stake inflow for the Lido, and it also enabled the Lido’s rate limiting feature for the first time,” the researcher added.
In January 2023, Lido announced plans to create an Ethereum deposit withdrawal feature ahead of Ethereum’s Shanghai hard fork, which is expected to happen in March.” Due to the asynchronous nature of Ethereum withdrawals, the process must be asynchronous,” a Lido developer explained at the time.
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