Recent activity involving two addresses associated with Lido DAO has sent ripples through the crypto market. A significant transfer of 30.53 million LDO tokens from Lido to centralized exchanges (CEXs) within a short time frame, including a recent batch of 19.41 million LDO, has caused concern among analysts and traders. These large transfers have sparked speculation about potential market instability and price volatility.
The involvement of addresses connected to Lido DAO, such as address 0x2c7AE and address 0x3A765, has raised eyebrows. These addresses allegedly sent LDO tokens to a probable market maker before distribution onto the exchanges. This move directly impacted LDO’s price, leading to a drop in prices.
While no official statement from Lido DAO has been released, market participants are bracing for potential volatility and increased attention on the LDO token.