Aave Founder Got Rid of Lido Finance Tokens

The pioneer of decentralized finance, Stani Kuleshov, sold all his LDO tokens.

According to Etherscan, on December 21, Kuleshov sold the remaining 715,000 Lido DAO tokens. Earlier, he got rid of 2 million tokens allocated in December 2020. In total, this year, the founder of Aave made eight LDO sales at an average price of $1.21.

Source: Etherscan
The reasons for the sale of tokens by Kuleshov are unknown
The reasons why the founder of Aave decided to get rid of LDO tokens are unknown. Lido Finance is the largest Ethereum staking platform after Beacon Chain with assets of $5.9 billion, and Kuleshov was among the investors of its seed round.

In May 2021, the company raised $73 million in a funding round led by Paradigm and Coinbase Ventures. And in March 2022 — another $70 million under the leadership of Andreessen Horowitz. The last round took place in September — Dragonfly Capital became the leading investor in it.

Source: Crunchbase
In November, the Lido stETH token got rid of ETH, which raised concerns about another liquidity crisis.

What will happen to the price of the Lido DAO
LDO has not been showing good results lately. But the same can be said about most DeFi tokens.

According to CoinGecko, over the past 24 hours, the price of LDO has fallen by 4% and is $0.922 at the time of writing. The decline was definitely influenced by the sale of tokens by Kuleshov.