The Lido DAO (LDO) recently saw its largest transaction in two years, according to blockchain analytics firm Santiment. The transfer involved $135 million worth of LDO, which was moved from one self-custody wallet to another. This is the eighth-largest transaction of all time on the LDO network.

At the time of writing, LDO’s price was trading at $1.85 following a 1.45% drop in the previous 24 hours. Despite this drop, LDO was still able to outperform Bitcoin and Ethereum, with a 0.02% gain against BTC and a 1.56% gain against ETH.

Lido DAO is a decentralized finance (DeFi) platform that allows users to stake their Ethereum (ETH) tokens and receive stETH tokens in return. These stETH tokens represent the user’s share in a pool of ETH that is staked by the Lido DAO. This allows users to earn rewards without having to deal with the technicalities of staking on the Ethereum network.

The recent movement of $135 million worth of LDO is a significant event for the Lido DAO ecosystem. It demonstrates a growing interest in the platform and the staking services it offers. It also highlights the importance of self-custody wallets in the DeFi space, as the transaction was conducted between two such wallets.

Self-custody wallets are wallets where users hold their private keys, giving them complete control over their assets. This is in contrast to custodial wallets, where the wallet provider holds the private keys and has control over the user’s assets. Self-custody wallets are generally considered to be more secure, as users are not reliant on third-party providers for the safety of their assets.

The growing popularity of self-custody wallets in the DeFi space is partly due to the increased security they offer. It is also due to the fact that they give users greater control over their assets, which is a key principle of the DeFi movement.

The Lido DAO platform has been making significant progress in recent months, with the launch of its state channel protocol Hydra and the programming language Helios. These updates have made it easier for developers to build on the platform and have helped to establish Lido DAO as an incubator for media projects.

Overall, the recent movement of $135 million worth of LDO is a significant event for the Lido DAO ecosystem. It demonstrates growing interest in the platform and the staking services it offers, and highlights the importance of self-custody wallets in the DeFi space. As the DeFi space continues to grow, platforms like Lido DAO are likely to play an increasingly important role in the future of finance.