In the last 24 hours, $LDO experienced a significant drop, hitting a low of $1.85, down by 21%, and is currently trading at $1.99.
Recent data from AI Chat highlights substantial whale outflows in the past day, matching the outflow levels seen over the past week.
This heavy selling pressure is reflected in the bearish sentiment across various candlestick charts, including the 1-hour, 4-hour, 1-day, and 3-day timeframes.
$LDO has dropped sharply to $1.88 (-21%) in the past 24 hours, and is currently trading at $1.99.
📌 Data from AI Chat (https://t.co/3qRHcki3dY) shows the analysis:
Onchain: A very large 24-hour outflow from Whales 🐳, equivalent to the outflow over the past 7 days.Technical:… https://t.co/TZU39v0ton pic.twitter.com/SAiGugGShF
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) June 29, 2024
LDO Price Volatility Influenced By Recent SEC Crackdown On MetaMask
The decline comes on the heels of allegations made by the SEC against MetaMask, specifically targeting its Stake feature associated with LidoFinance (LDO) and Rocket Pool (RPL). The SEC accuses ConsenSys, MetaMask’s parent company, of conducting unregistered transactions involving staked (st) tokens on the MetaMask Stake platform.
In response, ConsenSys has challenged the SEC’s authority, arguing that the regulator lacks sufficient jurisdiction over interface software like MetaMask.
Consensys fully expected the SEC to follow through on its threat to claim our MetaMask software interface must register as a securities broker. The SEC has been pursuing an anti-crypto agenda led by ad hoc enforcement action.
This is just the latest example of its regulatory…
— Consensys (@Consensys) June 28, 2024
The company has vowed to fight the allegations vigorously, underscoring the potential implications for its future Web3 initiatives.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any project.
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