Recently, Paradigm Capital moved approximately $96.6 million worth of Lido DAO (LDO) tokens (70 million LDO), in which 8.18 million LDO ($11.29 million) was sent to Coinbase Prime and 61.82 million LDO ($85.31 million) sent to what appears to be a new wallet.
So, Paradigm’s recent move seems like they are playing the long game with their LDO assets. The transfer follows Paradigm’s initial acquisition of 70 million LDO tokens on May 5, 2021, when the token was worth $0.76.
Paradigm had locked 15,120 ETH (around $53,25 million) at that time to secure their LDO holdings. This latest transaction shows Paradigm choosing to move most of these tokens into the new wallet.
This could be a way of holding or migrating the tokens for further term gains rather than just a money grab.
Paradigm Capital transferred all 70M $LDO($96.6M) out 2 hours ago, of which 8.18M $LDO($11.29M) was deposited into #CoinbasePrime and 61.82M $LDO($85.31M) was transferred to a new wallet.#Paradigm s
We współpracy z: https://www.thecoinrepublic.com/2024/11/07/institutions-stacking-up-lido-dao-time-to-buy/
