Lido DAO Buys LDO at Historic Low
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Lido DAO plans to buy back up to ten thousand stETH, worth around twenty million dollars, of its governance token LDO. The purchase will be executed in batches via Easy Track motions, with a three-day objection window. The tokens will be bought through centralized exchanges like Binance and OKX to avoid liquidity issues. LDO has been struggling, hitting an all-time low of $0.27 in March, and is now trading at around $0.30 with a $258 million market cap. The purchase is a bet on a low valuation, but it depends on markets valuing these tokens based on fundamentals.
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