Lido DAO Team Selling Spree Sends LDO Price Down, Triggering Concern for Liquid Staking Ecosystem

The Lido DAO team’s active selling of its native tokens (LDO) has triggered a significant drop in the price of LDO. After reaching near-record highs above $1.16 on May 14th, LDO is now trading around $0.87. This decline stems from wallets belonging to the Lido DAO team resuming token transfers to exchanges after a brief pause over the weekend. On-chain analysis has revealed that these wallets are actively sending LDO to exchanges, continuing the selling trend observed after an oracle attack on the protocol last week.