Justin Sun Unstakes 10,000 ETH and Moves $12.3M to Poloniex
TRON (TRX)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that onchain analysts identified a wallet cluster linked to Justin Sun requesting the unstaking of 5,000 ETH from Lido on Tuesday. This action brings his total redemptions to 10,000 ETH since August 26, reversing the liquid staking process to convert stETH into tradable ether. Sun previously unlocked 5,000 ETH worth approximately $12.3 million in early September, leaving his identifiable position above 243,000 ETH.
He deposited the $12.3 million into Poloniex at a price near $2,481, though this is not a definitive sell signal as he is a majority backer of the exchange. The ether is now liquid and sitting in a venue where it could be sold quickly, even though it has stopped earning staking yield. Sun continues to hold roughly 238,000 stETH valued at about $594 million, which remains his second-largest onchain asset.
Redeeming 10,000 ETH represents a low single-digit slice of his remaining stack over the past two weeks. Ether is currently trading near $2,484, consolidating within the $2,400 to $2,550 band. Bitcoin has also stalled below $80,000 as the wider market awaits U.S. inflation data. If Sun maintains this redemption pace, the 238,000 stETH stack becomes a slow-burning story, but a sudden queue fill would make it louder.
How the market reacted
Whalio's own Binance spot order flow for TRX, measured when this story was written up on 8 September 2026. Not the outlet's figures.
Whalio data for TRX shows a price of $0.3346 with a 1-hour buy ratio of 30.0%, indicating short-term selling pressure. This contrasts with a 4-hour buy ratio of 61.9%, suggesting that buying interest has built up over a slightly longer timeframe. The 24-hour buy ratio stands at 50.5%, showing a neutral balance between buyers and sellers over the full day. Volume delta for the last hour is negative at -$886,374, meaning sellers dominated the immediate flow. However, the 4-hour volume delta is positive at +$1,523,593, reflecting net buying over that period. The 24-hour volume delta is +$272,763, with cumulative buying pressure reaching +$4,890,291 by the close.
The latest daily buy ratio of 49.7% sits at the 33rd percentile of the last 322 days, against a median of 52.4% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for TRX, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 51.6%, making today's 24-hour ratio of 50.5% slightly below the norm by 1.1 points. Trading volume was 0.90x the weekly average, indicating lower activity than usual. Net buying occurred on 4 of the 7 days in the prior week. The price changed by only +0.6% over eight days, with a total volume delta of -$1,455,624. This suggests a relatively quiet and ordinary trading day compared to the broader weekly trend.