Lido-linked wallet offloads $21M in LDO, triggering a steep 24% weekly price drop
Bearish momentum grows as LDO forms consistent lower highs and fails key rebounds
MACD and RSI indicators signal weakening demand and potential for deeper downside
Over the past week, Lido DAO (LDO) has come under intense scrutiny following a series of large-scale token transfers. According to EmberCN, data, a suspected wallet linked to the Lido team reportedly moved 21.31 million LDO, valued at over $21 million, to centralized exchanges.
These consistent transfers happened at the same time LDO’s price dropped a steep 24 percent, falling from $1.16 to $0.88. On Monday, May 19, this trend apparently continued. Another 3.5 million LDO was sent to exchanges like Binance, OKX, Bybit, and Gate. This pattern created concerns among traders and investors. It suggests potential offloading activity and is contributing to negative price sentiment for LDO.
According to @EmberCN, a suspected Lido team-linked address transferred 3.5 million LDO ($3.1M) today to Binance, OKX, Bybit, and Gate. Over the past 6 days, the address has moved 21.31 million LDO ($21.24M) to CEXs. During this pe…
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