An institution, reportedly among Lidos early investors, transferred 4.3 million $LDO tokens, which it had held for approximately five and a half years, to the cryptocurrency exchange Kraken.
According to on-chain data, the current value of the transfer is approximately $1.61 million. The fact that the tokens were sent to a centralized exchange has led to speculation that the investor may be preparing to sell. However, it is not yet known whether the transferred assets have been sold.
The relevant institution reportedly received a total of 5 million $LDO as part of an investment allocation made in December 2020. Based on the tokens peak prices in 2021, the value of these assets had risen to approximately $30 million. Currently, however, the total market value of the allocated 5 million $LDO has decreased to approximately $1.88 million.
Related News Net Inflows into Cryptocurrency Investment Products Have Begun Again: Is This a Sign of a Bitcoin Rally？
However, it is estimated that the investor purchased $LDO tokens at an average cost of $0.0085. Therefore, despite the sharp drop in the $LDO price, the institution is still calculated to be more than 40 times more profitable than its initial investment.
On the other hand, another address suspected of being linked to a16z reportedly withdrew 471,500 HYPE from Hyperliquid in the last 24 hours. The tokens, worth approximately $30.57 million, were then transferred to centralized exchanges such as OKX, Bybit, and Gate.