Lido DAO

<p>The <a href="https://blockchainreporter.net/defi-decentralized-finance/" rel="noopener noreferrer nofollow">DeFi</a> sector witnessed noteworthy movements throughout the week as Chun Wang (Stakefish and F2Pool’s co-founder) offloaded 600,000 $LDO tokens. As per Spot On Chain, a popular on-chain analytics platform, Chun Wang sold $667,000 in $LDO coins, marking Wang’s return following a 10-month hiatus. The analytics company revealed this event on its official social media account.</p><h2 id="header-0">Early Lido DAO Participant Sells $600,000 $LDO for $667,000 after Ten-Month Break</h2><p>Spot On Chain revealed that Chun Wang’s sale of $600,000 $LDO for $667,000 denotes his return after a ten-month pause. As an early Lido DAO participant, he originally acquired 20M $LDO coins back in 2020’s December. At present, he retains 8M tokens with a value of nearly $8.69M. This sale is not a unique event. Wang is currently 4th earliest Lido DAO participant who offloaded a substantial part of the $LDO tokens thereof in November.</p><p>The trend of offloading $LDO coins started earlier in November as 3 other Lido DAO founding partners sold holdings. The respective event ignited a sheer market reaction. In this respect, on the 11th of November, Paradigm transacted 36.51M $LDO coins, valued at $47.7M, to Coinbase Prime. Irrespective of the sale, Paradigm still possesses 33.49M $LDO tokens with a value of $41.9M.</p><p>Moreover, the well-known investment and research platform Delphi Digital also shifted 859,703 $LDO coins (equaling $1.13M) to Wintermute Trading. This contributed to the expanding selling pressure on the overall market. Additionally, the investment company KR1 plc also deposited approximately 600,000 $LDO coins (almost $749,000) to the crypto exchange Kraken.</p><h2 id="header-1">The $LDO Offloading by Early Members Triggers Concerns Amid Wider Volatility</h2><p>Lido DAO has been offering resilient liquid staking solutions in the DeFi sector. However, the latest offloading by the early members of the platform raises concerns. According to <a href="https://spotonchain.com/" rel="noopener noreferrer nofollow">Spot On Chain</a>, despite the possibility for these sales to have occurred in routine profit-taking, the move raises questions amid the wider volatility concerns.</p>

Lido DAO Founders Offload $LDO Tokens Amid Market Volatility

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