Early Lido holder transfers 4.3 million LDO to Kraken after 5.5 years

A wallet previously identified as an early Lido investor or institution moved 4.3 million LDO worth $1.61 million to Kraken after a roughly 5.5-year holding period, putting focus on whether more supply could become available for trading. The entity originally received 5 million LDO in December 2020 at a cost of $0.0085 per token. That allocation later reached a peak value of $30 million in 2021 and is now worth about $1.88 million, still leaving the position up more than 40x. On-chain records show the tokens were sent to an exchange-associated address, but the transfer does not by itself confirm a sale. Traders are instead watching for additional transfers from the same wallet and for broader increases in exchange balances before drawing conclusions about selling pressure.