Lido plans 8.5% LDO supply buyback to fix ‘price dislocation’ – Details

What: Lido plans to buy back **8.5%** of LDO supply to address price dislocation caused by whales selling nearly **80 million** tokens in the past six months.
Why: The buyback aims to stabilize the market and prevent further price volatility.
Signal: Lido's move is seen as a positive signal for the LDO token and the broader DeFi ecosystem.
Target: The buyback is expected to target whales who have been selling LDO tokens, reducing their influence on the market.
Risk: The success of the buyback depends on the whales' willingness to sell their tokens and the overall market sentiment.