Tron founder Justin Sun has staked millions in Ethereum (ETH) on Ethereum liquid staking platform Lido Finance ahead of the most-awaited Ethereum Shanghai upgrade in March.

On-chain data platform Lookonchain on February 25 revealed that an address marked as Justin Sun staked 150,100 ETH worth over $240 million on Lido. The DeBand wallet details show 3 transactions with 50,000 ETH transferred to Lido and 100 ETH moved to Lido at around 07:20 AM UTC today.

Whale Alert platform also reported three transactions with 50,000 ETH worth 80,077,036 each transferred from Justin Sun to an unknown wallet.

Large amounts of ETH staked to liquid staking pool Lido by Justin Sun is a no-brainer. It clearly indicates that Justin Sun is bullish on the Ethereum Shanghai upgrade and wants to utilize the opportunity. In fact, Ethereum staking continues to rise as the Shanghai upgrade comes near.