Whale Buys Huge Amounts Of LDO Worth More Than $3 Million

  • The LDO was later transferred into Uniswap to provide liquidity.
  • LDO is currently trading hands at $2.74 after a 5.98% drop in price.

After the crypto market took a bit of a knock yesterday, it seems like many whales took advantage of the buying opportunity this presented. The on-chain analysis platform Lookonchain took to Twitter earlier this morning to share some new data they accumulated about a specific whale and its newest purchase.

LDO whale transactions (Source: Twitter)

According to the post, a whale bought about 984,687 Lido DAO (LDO) with 1,806 Ethereum (ETH), which is worth about $2.83 million, over the last 24 hours. The whale made this purchase with an average buying price of $2.87.

The whale then received 1,235,546.8 LDO, worth about $3.47 million, from Binance when the price of the crypto stood at $2.81. After this, the LDO was transferred into Uniswap to provide liquidity.

LDO / Tether US 1D (Source: TradingView)

CoinMarketCap indicates that LDO is currently trading hands at $2.74 after a 5.98% drop in price over the last day. The altcoin is, however, still in the green by about 0.70% over the last week.

LDO also weakened against Bitcoin (BTC) and ETH by about 5/93% and 6.10% over the last day. Its 24 hour trading volume is currently in the red zone and stands at $259,690,996 after a 0.07% decrease since yesterday.

With its market cap of $2,328,835,177, LDO is currently ranked as the 29th biggest crypto in terms of market capitalization. This places it right behind Bitcoin Cash (BCH) in the 28th position and in front of Stellar (XLM) which is ranked 30th on the list of the biggest cryptocurrencies.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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