Crypto News

Whale Investors Hold Strong As $LDO Achieves Annual Peak At $3.46

$LDO, the native token of the prominent liquid staking platform Lido DAO, has been on an impressive upward trajectory, surging by 15% within a week to reach its yearly high at $3.46.

Lido DAO, known for its liquidity staking protocol, offers Ethereum holders the ability to stake their assets in a smart contract while retaining liquidity through a distinct token. The platform’s unique feature, providing users the flexibility to maintain liquidity in the dynamic cryptocurrency market, serves as a key attraction.

On-chain data from spotonchain reveals that despite the recent milestone, two substantial whales continue to HODL a significant amount of $LDO, totaling 13.9 million ($46 million) with substantial unrealized profits.

Notable $LDO Whales To Monitor

One notable whale, 0xbee linked to Amber Group, boasts an impressive unrealized profit of $13.3 million (+59%). Holding a substantial 10.89 million $LDO ($36 million), this whale has maintained an average buying price of approximately $2.07, with its most recent purchase recorded in December 2023.

The second whale, associated with Brevan Howard Digital (also known as Dragonfly Capital) with addresses 0x4c3 and 0x7d6, reveals an unrealized profit of $4.7 million (+88%).

Currently holding 3.03 million $LDO ($10 million), this whale acquired its position at an average buying price of around $1.76, with the last purchase occurring in July 2023.

This data not only underscores the impressive performance of $LDO, reaching its annual peak, but also emphasizes the confidence and commitment of significant investors who continue to hold their positions despite the market’s fluctuations.

The actions of these whale investors contribute to the narrative of $LDO as a robust and promising asset within the cryptocurrency space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: nexusplexus/123RF // Image Effects by Colorcinch

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