Whales Are Accumulating Lido (LDO). Could Its Price Be About to Surge?

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A whale has captured the market’s attention by making strategic moves around the cryptocurrency Lido DAO (LDO). This individual, whose activity has been closely monitored since October, demonstrated a strong interest in LDO, making significant purchases and taking risky measures to maximize their investments.

Since October 2nd, this whale has acquired more than 2 million LDO, with a total value of $3.6 million, at an average price of $1.79. However, what really caught attention is their decision to deposit the entirety of their 2 million LDO into Aave, a decentralized finance (DeFi) platform, while simultaneously borrowing 1.56 million USDT.

The strategy behind this move is clear: use the borrowed funds to acquire even more LDO, thus demonstrating an optimistic confidence in the future of the cryptocurrency. The investor’s profitability so far has been impressive, reaching a profit of approximately $1.4 million at the current value of LDO.

Analysts Keep a Close Eye On Lido

This unique behavior did not go unnoticed. Market observers and experts, such as Lookonchain, analyzed the possible implications of these actions. On the one hand, the confidence expressed by the whale in buying large quantities of LDO could attract the attention of other investors, thereby contributing to the popularity of the cryptocurrency. Furthermore, the massive deposit of $5 million in LDO on Aave could have a direct impact on supply and demand, potentially boosting the value of LDO if more people seek to borrow this crypto.

However, as in any financial market, there is a duality of risks and rewards. The possibility that the whale may decide to sell a significant amount of LDO in the future could lead to a temporary drop in its value, influencing the strategies of other investors who should be aware of these movements.

lido dao post

According to data provided by CoinMarketCap, despite the recent 0.59% decrease in price in the last 24 hours, LDO is trading at $2.57 per unit. The persistent interest of large investors like this individual suggests an optimistic future.

It is noteworthy that Lido has been on the rise for some time. The accumulated weekly growth is 18.96%, while on a monthly scale, growth rises to 43.3%. Meanwhile, the market capitalization dropped by 0.52% and is currently $2,284 million, while the volume fell just over 18.5% and barely exceeds $89.3 million.

Additionally, as an additional factor, the deployment of Lido on the Base network and other developments in the protocol could contribute to improving the price outlook for LDO.

The interest of this whale could trigger a wave of interest in Lido that attracts more investors. If this shift in demand has the desired effect, the price could soar. It will be crucial to closely monitor its performance and movements to see how it progresses.


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