Nansen CEO Don Send $1.46M LDO Go Coinbase, E Mean Say Dem Go Sell
For August 11, Nansen CEO Alex Svanevik do big transfer of LDO tokens, move 1 million LDO (about $1.46 million) waka im on-chain holdings go Coinbase. Svanevik first get 5 million LDO in December 2020 as part of Lido Finance advisor allocation and now im still get 1 million LDO. LDO, the main governance token wey Lido Finance liquid staking protocol dey use issue stETH, dey often get sell pressure when whales dey deposit tokens for exchange. This LDO token transfer fit mean say im dey balance im portfolio, need better custody or market activity dey come. Traders suppose dey watch on-chain flows, LDO order books and trading volumes to see if supply go increase or price go change, as big deposits fit affect short-term liquidity and market feeling.
Bearish
Dis big big LDO token transfer go Coinbase wey Nansen CEO do fit cause short-term selling wahala, as big whales dey usually deposit governance tokens for exchange before dem go sell am. But since no immediate sell orders dey, e show say na strategic rearrangement dem dey do, no be imminent dump. For short term, more LDO supply for exchanges fit pressure price, make traders dey watch order books and on-chain flows well well for any liquidity changes. Long term, dis kain moves na normal portfolio management plus transparency wey on-chain analytics get, unlikely to change LDO core fundamentals sharply.