Paradigm recently moved 6.744 million $LDO (valued at $8.97 million) to Coinbase Prime, marking another significant transfer just three hours ago.

These transfers, which began after $LDO’s price surge on November 7, are part of a larger selloff. Initially, Paradigm bought 70 million $LDO tokens directly from the Lido Treasury at $0.76 each.

Over the past five days, they’ve transferred 43.255 million $LDO (worth $56.87 million) to Coinbase Prime, averaging a transfer price of $1.31. Paradigm’s ongoing sales appear to be keeping $LDO’s price in check since the recent increase.

Meanwhile, Lido’s analytics for November 4-11 reveal impressive metrics. Total Value Locked (TVL) has surged by 30.21%, reaching $31.26 billion—mainly due to rising ETH and MATIC prices. The ETH staked through Lido also rose by 36,736 ETH this week.

The stETH 7-day APR showed slight growth, increasing by 8 basis points to reach 3.01%. In DeFi, (w)stETH in lending pools saw a modest rise of 1.39%, reaching 2.91 million stETH, while liquidity pools held 96.5k stETH (+1.89%). Furthermore, stETH in restaking grew by 2.11%, totaling 1.11 million stETH.

Trading volumes have also been strong. The past week saw a 59.9% increase in (w)stETH’s 7-day trading volume, which reached $1.29 billion. Multichain activity grew as well, with the total bridged wstETH rising by 6.44% to 189,777 tokens across various networks. Notable gains included a 60.25% increase in wstETH on BNB and a 22.46% jump on Base.

Despite the positive analytics for Lido, Paradigm’s continuous selling may be impacting $LDO’s recent price momentum.

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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