The decentralized finance (DeFi) token Lido DAO (LDO) experienced a significant drop of over 10% within 24 hours. This drop occurred after three major initial Lido DAO members, including Paradigm, Delphi Digital, and KR1 plc, sold a total of $49.6 million worth of LDO tokens to centralized exchanges during last week's market rally. Paradigm Capital led the sales by donating 36.51 million LDO worth approximately $47.7 million to Coinbase Prime. This marks Paradigm's second recent move, indicating a gradual liquidation strategy. Delphi Digital and KR1 plc also made substantial transactions. These sales suggest caution among institutional holders and have affected the overall sentiment of LDO and other DeFi tokens. The market is now watching for a potential rebound or sustained bearish trend in the coming weeks.



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