![Aave founder offloads entire LDO bag over 12 months for a total of $2.4M](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/08/Stani-Kulechov.jpg&w=70&h=37&q=75)
Aave founder offloads entire LDO bag over 12 months for a total of $2.4M
Aave founder Stani Kulechov was given 2 million LDO tokens as an early investor in December 2020, which he held for a year and began selling at the end of 2021.
![Aave founder offloads entire LDO bag over 12 months for a total of $2.4M](https://cryptoslate.com/wp-content/uploads/2023/08/Stani-Kulechov-768x403.jpg)
Collision Conf / CC BY 2.0 / Flickr. Remixed by CryptoSlate
Stani Kulechov, the founder of Aave and Lens Protocol, sold 715,000 LDO tokens on Dec. 21 data from Etherscan showed.
The tokens were worth around $667,200 as of press time, the batch represented the last of the Lido DAO Token allocation Kulechov got as a seen investor in Lido Finance.
In December 2020, Kulechov was allocated a total of 2 million tokens in exchange for his investment in Lido. He held the tokens until the end of 2021 when he offloaded 50,000 LDO in the first of many transactions.
![LDO stani kulechov](https://cryptoslate.com/wp-content/uploads/2022/12/Screenshot-2022-12-22-at-15.12.10-1.png)
Spaced weeks apart, Kulechov’s transactions varied from 50,000 LDO to as much as 715,000 LDO. The average selling price for his tokens was around $1.21 โ the token was trading at around $0.90 at press time.
Kulechov’s 715,000 LDO transaction put quite a bit of selling pressure on the token, which was its price decrease from just under $1.00 on Dec. 19 to a six-month low of $0.89. The token is now back to its July lows when it lost over half of its value following the Terra crash.
![LDO USD](https://cryptoslate.com/wp-content/uploads/2022/12/LDOUSD_2022-12-22_15-16-21.png)
It’s still too early to tell whether Kulechov offloading his LDO will have a long-term impact on the token’s liquidity. The token has been on a downward spiral since August, save for a few weak corrections.