Cobie aggregated addresses and transferred out $6.58 million worth of LDO, with multiple exchanges receiving large deposits

BlockBeats News, June 2nd, according to on-chain analyst @EmberCN, multiple addresses connected to well-known crypto KOL and investor Jordan Fish (Cobie) completed asset consolidation today, transferring a total of 20 million LDO, valued at approximately $6.58 million at the current price.

Subsequently, in the past about 30 minutes, the above-mentioned LDO has been steadily transferred to centralized exchanges such as Binance, OKX, and Kraken.

The market usually considers large token transfers to exchanges as a potential sell-off signal, so this transfer has aroused market concerns about future selling pressure on LDO. However, as of now, on-chain data only shows the assets being deposited, and it is not yet possible to confirm whether they have been sold or only transferred for reallocation of funds.

LDO is the governance token of Lido DAO. Lido is one of the largest Ethereum ecosystem staking protocols, and its token price trend is often influenced by factors such as ETH market sentiment, staking business growth, and changes in whale holdings.