Institutions Sell LDO Tokens, Transferring Large Holdings to Exchanges

Recent data from Lookonchain suggests that several institutional investors have withdrawn approximately $45.6 million worth of LDO tokens over the past month, depositing a total of 48.48 million tokens into centralized exchanges. These transfers were initiated by wallet 0xC4Db, including a notable move by Paradigm Capital who transferred 10 million LDO tokens to the same address, hinting at potential future selling activity.