Stani Kulechov, the founding father of Aave and Lens Protocol, bought 715,000 LDO tokens on Dec. 21 knowledge from Etherscan confirmed.
The tokens had been value round $667,200 as of press time, the batch represented the final of the Lido DAO Token allocation Kulechov obtained as a seen investor in Lido Finance.
In December 2020, Kulechov was allotted a complete of two million tokens in alternate for his funding in Lido. He held the tokens till the top of 2021 when he offloaded 50,000 LDO within the first of many transactions.
Spaced weeks aside, Kulechov’s transactions diverse from 50,000 LDO to as a lot as 715,000 LDO. The common promoting value for his tokens was round $1.21 — the token was buying and selling at round $0.90 at press time.
Kulechov’s 715,000 LDO transaction put fairly a little bit of promoting strain on the token, which was its value lower from just below $1.00 on Dec. 19 to a six-month low of $0.89. The token is now again to its July lows when it misplaced over half of its worth following the Terra crash.
It’s nonetheless too early to inform whether or not Kulechov offloading his LDO may have a long-term affect on the token’s liquidity. The token has been on a downward spiral since August, save for a couple of weak corrections.
The submit Aave founder offloads total LDO bag over 12 months for a complete of $2.4M appeared first on CryptoSlate.
