The transfer came 20 minutes before the report and mirrors a move one week earlier, when the withdrawn ETH was later staked through Lido, according to on-chain analyst Ai Yi.
Justin Sun withdrew 12,000 ETH valued at $19.5 million from Poloniex about 20 minutes before the transaction was flagged by on-chain analyst Ai Yi. The move follows a similar withdrawal one week earlier. In that previous case, the ETH was later staked into Lido, a liquid staking protocol (service that lets users stake while keeping a tradable token). The newly withdrawn ETH had not yet been moved further at the time of the report, leaving the market watching whether it will follow the same path into staking.