On-chain data suggests institutions are increasingly offloading Lido DAO (LDO), the liquid staking platform on the Ethereum (ETH) blockchain.
Over the past month, institutional wallets have transferred approximately 48.48 million LDO, valued at $45.6 million, to exchanges, according to blockchain analytics data retrieved from Arkham Intel on June 10.
LDO institutional transfers. Source: Arkham
Among the most recent transactions, Paradigm Capital moved 10 million LDO through a series of deposits to exchanges such as Gate.io, Bybit, OKX, and Binance.
These transfers ranged from 500,000 to 1.76 million LDO over the past week and month. This uptick in exchange inflows hints at potential selling pressure, as institutions deposit large amounts of tokens on trading platforms before liquidating their positions.
Consequently, the swift movement of such volumes may signal either profit-taking or a shift in institutional strategy, especially considering LDO’s dual role in gover
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