🔸 A private investor or organization participating in Lido’s first round has just transferred 4.3 million
$LDO (about $1.61 million) to
#Kraken. after more than 5 years of holding. According to on-chain data, this address received 5 million LDO from an investment allocation round in December 2020 at a cost basis of only about $0.0085 per token.
🔸 This investment once reached a value of nearly $30 million at the peak of the 2021 cycle, but it now stands at only about $1.88 million due to the sharp decline in the LDO price over the past several years. Nevertheless, given the extremely low original cost basis, this investor is still seeing gains of more than 40x if they were to sell all of the remaining tokens.
What do you all think about this move—does it simply reflect a normal early profit-taking action by the investor, or is it a signal that selling pressure from long-term holders is still present with
$LDO ?
This article is for news updates only, not investment advice.