For the third day in a row, Paradigm has offloaded a substantial amount of Lido DAO (LDO) tokens, transferring 11 million LDO, valued at approximately $14.08 million, to Coinbase Prime around 30 minutes ago.
This series of transactions follows the sharp rise in LDO’s price on November 7, signaling Paradigm’s ongoing profit-taking strategy.
Out of the original 70 million LDO tokens acquired from the Lido Treasury, Paradigm has now transferred 26.12 million LDO (equivalent to about $34.6 million) to Coinbase Prime. The average purchase price for these tokens was $1.32 per LDO, allowing Paradigm to capture significant gains as the price has risen in recent weeks.
https://twitter.com/EmberCN/status/1855050687245434938
Paradigm Still Holds Over 40 Million LDO Tokens
Despite these sales, Paradigm retains a substantial balance of 43.878 million LDO, which is currently valued at around $55.8 million. With this carefully timed strategy, Paradigm has so far achieved an estimated profit of $36.9 million, representing an impressive return of approximately 69% on their LDO holdings.
https://twitter.com/EyeOnChain/status/1855137287916703858?t=77KMzzwsvfF3AKp0WWddVw&s=19
The recent LDO transfers and Paradigm’s strategic trading activity have drawn attention from investors who are monitoring the firm’s moves closely, as LDO continues to see increased trading volume and price appreciation.
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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