Terraform Labs Sells all 20 Million Lido Tokens
It is reported that according to the data disclosed by the chain analyst @ Lookonchain, the address marked by Nansen as Terraform Labs has sold all 20 million LDOs today at a price of $207, of which 15.3 million LDOs (about $32 million) were sold on DEX at an average price of $2.1, and 4.7 million LDOs (about $9.4 million) were transferred to the cryptocurrency exchange on May 9, when the selling price was $2. Terraform Labs participated in Lido’s $2 million financing transaction in 2020 and obtained 20 million LDO tokens.
Terraform Labs has sold all 20 million LDOs
Analysis based on this information:
According to Lookonchain, a chain analyst, Terraform Labs, a major player in the cryptocurrency scene, has sold all 20 million LDOs at the price of $207. It is reported that Terraform Labs sold 15.3 million LDOs (approximately worth $32 million) on DEX at an average price of $2.1, with the remaining 4.7 million LDOs (worth $9.4 million) transferred to a cryptocurrency exchange on May 9 when the selling price was $2. Earlier, in 2020, Terraform Labs participated in Lido’s $2 million financing transaction, and received 20 million LDO tokens.
One of the key takeaways from this report is the fact that Terraform Labs was able to sell all 20 million LDO tokens, which can be indicative of their confidence or lack thereof in the coin’s future performance. This selling spree by Terraform Labs, one of the more reputable players in the crypto world, could lead to a decrease in investor confidence, leading to lower demand and thus, lower prices. Additionally, it is interesting to note that Terraform Labs chose to sell a majority of the LDOs on DEX, as these decentralized exchanges generally offer lower fees and an easier avenue to sell tokens.
On the other hand, this selling of LDOs by Terraform Labs could also be seen as a positive move for the overall ecosystem. By selling off their LDOs, Terraform Labs ensures that they can maintain a balanced portfolio and take advantage of any future opportunities in the market. The sale of LDOs also serves as a sign of liquidity, leading to a more stable market for LDOs.
In conclusion, the selling of all 20 million LDO tokens by Terraform Labs is a significant move in the cryptocurrency space, and may have far-reaching consequences for the coin’s future performance. While this could be seen as a negative move by some, it can also be interpreted as a positive signal for the entire ecosystem. It is important to keep a close eye on the developments surrounding Lido and Terraform Labs in the coming days and weeks to gauge the impact of this move on the cryptocurrency market.
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