According to a tweet from a cryptocurrency analyst, a large investor, known as a “whale,” has reportedly purchased a significant amount of Lido DAO Token (LDO) on Binance. The whale bought 474,527 LDO tokens worth $1.24 million and now holds 14.8 million, currently valued at $39.38 million.
The average buying cost of this whale is estimated to be around $2.49, and the current floating profit is approximately $2.58 million. This suggests that the whale has made a significant profit on their investment.
In another tweet, the same analyst shared that another whale investor, known as “0x77b3,” had purchased 6.8 million LDO tokens using 6,135 ETH worth $25 million. The average buying price was approximately $3.67.
The whale received 7.99 million LDO tokens worth $11.83 million from Binance at an average receiving price of $1.48. This suggests that the whale has made an approximately $6.16 million profit.
Lido DAO Token is a decentralized finance protocol allowing users to stake their ETH and earn interest while maintaining their voting rights on the Ethereum network. The token has seen significant growth in recent months, and these large investments indicate further potential for growth in the future.
Lido DAO Token has gained popularity among investors due to its unique features, which solve some of the issues associated with traditional staking protocols.
For example, with Lido, users can stake their ETH without locking it up, allowing them to maintain liquidity while still earning rewards. Additionally, Lido is a community-owned and governed protocol, meaning token holders have a say in the development and decision-making process.
The recent investments from these whales have brought more attention to Lido DAO Token, and it will be interesting to see how the token performs in the coming months. As the cryptocurrency market continues to evolve, investors are constantly looking for new opportunities to generate profits, and Lido DAO Token’s unique features may make it an attractive option.
However, it’s important to note that investing in cryptocurrencies can be risky, and investors should always research and assess their risk tolerance before making any investment decisions. Furthermore, as with any investment, there is no guarantee of profit, and investors should be prepared to lose some or all of their investment potential.
In summary, the recent investments from these whales highlight the growing interest in Lido DAO Token and its potential for future growth. However, investors should always exercise caution and conduct their research before investing in any cryptocurrency.
Conclusion
In conclusion, two large investors, or “whales,” have purchased a significant amount of Lido DAO Token (LDO) on Binance, indicating confidence in the future growth potential of the decentralized finance protocol. The first whale purchased 474,527 LDO tokens worth $1.24 million, bringing their total holdings to 14.8 million, currently valued at $39.38 million.
The second whale, known as “0x77b3,” purchased 6.8 million LDO tokens using 6,135 ETH worth $25 million and has received 7.99 million LDO tokens worth $11.83 million, indicating a profit of approximately $6.16 million. These large investments suggest that Lido DAO Token may continue to see significant growth in the future.
