MakerDAO founder sells Lido DAO tokens, buys MakerDAO tokens, according to the latest data. According to reports, the co-founder sold about 18.8 million Lido DAO tokens for 27 million DAI, 7,553 MakerDAO tokens and 92 ETH for $4.67 million. The average selling price was set at $1.68. The co-founder then purchased 15,092 MakerDAO tokens using 4.44 million DAI, 2.8 million Lido DAO tokens and 604,000 USDT. The average purchase price was $644. It is worth noting that these transactions took place during a period of increased volatility in the cryptocurrency market.
While it’s unclear what motivated the MakerDAO co-founder to make these moves, some analysts believe these transactions could be a sign of confidence in the MakerDAO project’s long-term potential. MakerDAO allows users to issue and trade a stablecoin called Dai, which is pegged to the US dollar.
The MakerDAO ecosystem relies heavily on the Maker token (MKR), which is used to manage the system and make decisions about its future development. On the other hand, Lido DAO is a liquid staking protocol that allows users to earn staking rewards on Ethereum assets without blocking their tokens. Lido tokens are used to represent staked Ethereum and users can buy and sell them on various decentralized exchanges. The co-founder’s decision to sell Lido DAO tokens and buy MakerDAO tokens can be seen as a vote of confidence for the MakerDAO project, which is gaining traction in the DeFi space. MakerDAO recently surpassed $5 billion in total locked value, making it one of the most popular DeFi protocols.