Lookonchain Unveils On-Chain Data Showing Whale Transfers Around Lido DAO
Lookonchain, a platform providing on-chain metrics, recently released data detailing whole lot of whale transfers related to the LDO token on November 20. Cryptocurrency enthusiasts worldwide took notice of the substantial amounts of Lido coins being transferred from exchanges to wallets as two whales withdrew millions of coins from cryptocurrency exchanges amid a price surge for the token. This move was indicative of positive market sentiments within the world of digital currencies. Whales Accumulating Lido DAO
According to Lookonchain’s market data, an unknown wallet, 0x011D19…4e27, withdrew 1.47 Million LDO from Binance, totaling $3.6 Million as of the time of writing. In addition, the same wallet withdrew 5.9 Million LDO, amounting to $14.5 Million, in the previous few days through a series of transactions. Another wallet, FalconX, likewise withdrew 1.26 Million LDO ($3.1 million) from Binance today, bringing its total withdrawals to 4.9 Million LDO, amounting to $12 Million. Implications of Whale Movements and Lido DAO Price Report
The whole lot of whale movements amid the LDO price rally have captured attention in the cryptocurrency realm. Accumulation of digital currencies by whales often suggests a possible positive trend sentiment surrounding the token as the circulating supply decreases, potentially leading to an increase in demand and price. At the time of publication, the Lido DAO price had surged by 10.92% to reach $2.52, marking an all-time monthly high and a 64.38% increase in the previous 30 days. The coin likewise saw a 7.48% increase in the previous week.
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