Whale Swaps RNDR For LDO
A significant portfolio shift occurred on Coinbase as a whale trader exchanged Render (RNDR) for Lido DAO (LDO). This trader, identified as 0xfc9, deposited 750,000 RNDR worth $3.01 million and withdrew 450,000 LDO tokens valued at around $1.5 million. These transactions took place during a period of market volatility. The RNDR price dropped by 11% in the last 24 hours, while the LDO price surged by 13%. In total, the trader made profits of $8.95 million by trading seven other tokens.
Lido DAO Price Today
After reaching a 52-week high of $3.61, the Lido DAO price surge has slowed down. Currently, the LDO price is up by 6.28% at $3.24, which is a drop of over 10% from its recent peak. The market cap of LDO is $2.88 billion, up by 6.18%, and its 24-hour trade volume has increased by 37.76% to $280.28 million. Over the past month, LDO has delivered impressive returns of over 38% and has gained more than 153% in value over the past year. However, it is still trading 70.77% lower than its all-time high of $11.
According to TradingView analytics, the LDO price is currently trading above its 10-day and 50-day EMA at values of 3.012 and 2.504 respectively, indicating a bullish sentiment that supports the ongoing rally. The RSI value stands neutral at 63.
Hot Take: Lido DAO’s Surge Amidst Crypto Market Bleed
Lido DAO (LDO), a DeFi token, has gained significant attention with its price surge even as the overall crypto market experiences a downturn. The recent portfolio shift by a whale trader, who swapped RNDR for LDO on Coinbase, contributed to this surge. Despite a drop from its 52-week high, LDO continues to show strength in its market cap and trade volume. With impressive returns over the past month and year, LDO has proven its potential for growth. As the LDO price trades above key moving averages and with a neutral RSI value, it suggests positive market sentiment. The recent bullish outcome positions Lido DAO as an interesting asset to watch in the coming days.
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