Justin Sun Withdraws $19.5M in Ethereum from Poloniex, Staking Move Expected

Justin Sun withdrew 12,000 ETH, worth about $19.5 million, from Poloniex, according to on-chain data. The move is notable because it matches his prior pattern of moving ETH from exchanges before staking it, likely on Lido. The article says the ETH has not yet been moved again, so a staking deposit is possible but unconfirmed. Market impact appears limited in the short term, as the amount is small relative to Ethereum’s total supply and daily trading volume. Still, the transfer highlights ongoing whale activity around liquid staking and DeFi yield strategies, which can influence sentiment if followed by a larger staking or exchange-flow trend.