Rune Christensen, the founder of Sky (formerly MakerDAO), is close to offloading the last of the 25 million $LDO tokens he originally received as an early member of Lido Finance’s decentralized autonomous organization (DAO).
On December 17, 2020, Christensen was allocated 25 million $LDO when the token was priced at $1.75.
Since 2022, Christensen has been gradually selling off his $LDO holdings, averaging a sale price of $1.94 over time. His latest transaction occurred just five hours ago, when he sold 400,000 $LDO for $407,300 in $USDC, translating to a sale price of $1.02 per token.
This recent move leaves Christensen with a remaining balance of 647,000 $LDO, worth approximately $664,000 at current market rates.
Rune Christensen, founder of Sky (fka MakerDAO), is selling the last of the 25M $LDO he received as an initial DAO member of Lido Finance.
On Dec 17, 2020, when the price was $1.75, @RuneKek received 25M $LDO from @LidoFinance. Since 2022, he has gradually sold most of these… pic.twitter.com/p2oVAk6V1R
— Spot On Chain (@spotonchain) October 11, 2024
Christensen’s Influence Over $LDO Token Is Now Very Minimal
This gradual offloading of $LDO marks the near completion of Christensen’s divestment from his initial stake in Lido Finance. His token sales have been closely followed by the crypto community, particularly given his prominent role in both the MakerDAO and Lido ecosystems.
Lido Finance, a liquid staking protocol, has grown significantly since its inception, and $LDO has remained a key asset in the decentralized finance (DeFi) space. As Christensen wraps up his involvement with $LDO, attention shifts to how this could impact the token’s market dynamics and the broader DeFi landscape.
With only 647,000 $LDO remaining in his portfolio, Christensen’s influence over the token is now minimal, signaling the end of a significant chapter in his involvement with Lido Finance.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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