A dormant Lido DAO whale has returned to the market, spending $5 million on 2.72 million LDO tokens, driving the token's price upwards. This whale activity, coupled with general bullish sentiment, suggests further potential for price growth in the near future.
A significant Lido DAO whale has re-emerged after a year of dormancy, spending $5 million on 2.72 million LDO tokens, driving the token's price upward. Lido DAO has experienced substantial price gains recently, surging from a low of $1.55 to a high of $2.00. While it has since experienced a slight pullback, it is currently trading at $1.84, representing a 5.67% increase on daily charts, a 2.45% gain on weekly charts, and an 8.49% rise on monthly charts.
This upward trend has fueled optimism among investors, particularly whales who have started accumulating the token. This whale activity is part of a larger trend of increasing large holder inflow in the LDO market. Inflow has surged from 12 million tokens to 19 million, indicating more capital entering than exiting the market. As a result, large holders' netflow has remained positive over the past seven days, suggesting confidence in the market and a willingness to accumulate. The increased demand driven by whales has positively impacted LDO's price. Higher buying pressure has pushed the token upwards, validated by a bullish crossover on LDO's Stoch RSI. This crossover signals that buyers are gaining control, while sellers are losing momentum. The overall market sentiment has shifted to bullish, evidenced by LDO's Weighted Sentiment turning positive two days ago after remaining negative for most of the week. This bullishness is further supported by a rising demand for long positions, indicated by a positive Funding Rate across all exchanges. LDO's Funding Rate has remained positive over the past week, signaling strong demand for long positions. The Lido DAO's MVRV Long/Short Difference has also turned positive after being negative earlier in the week. This indicates that long-term holders' profit margins are increasing as they continue to hold, reflecting continued market confidence and expectations of further price growth. With whales actively accumulating LDO and retailers remaining bullish, Lido DAO has the potential for further price gains. If the current trend persists, LDO could reclaim $2 and attempt to break the $2.1 resistance level. However, if the trend reverses, a correction could follow, dropping the altcoin to $1.65
Lido DAO LDO Whale Accumulation Price Surge Cryptocurrency Market
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dead Whale Washes Ashore Near Proposed Whale Sanctuary in Nova ScotiaThe discovery of a dead whale near a proposed whale sanctuary in Nova Scotia highlights the ongoing efforts to establish a safe haven for captive whales. The Whale Sanctuary Project has been working for years to create a sanctuary on Nova Scotia's Eastern Shore, and the recent arrival of orcas from Marineland Antibes has renewed hope for the project.
Read more »
ENA Token Price Dips Amidst Large Whale DepositsArthur Hayes' large deposits of ENA tokens into Binance and Bybit trigger market volatility. While the price falls below critical support levels, robust user engagement and positive long-term investor sentiment offer a glimmer of hope for the token's future.
Read more »
Tortoise Awakens From Winter Slumber After 15 Weeks in RefrigeratorFranklin the marginated tortoise is emerging from his winter hibernation after spending 15 weeks in a refrigerator at the British Columbia Wildlife Park. The tortoise, rescued in 2022, will move into an indoor habitat with a new companion, a red-footed tortoise named Mortimer.
Read more »
Tortoise Awakens After 15-Week Brumation in RefrigeratorFranklin the marginated tortoise is being brought out of hibernation after spending 15 weeks in a refrigerator at the BC Wildlife Park. The rescued tortoise, who was likely an abandoned pet, underwent brumation, a natural process for cold-blooded animals to conserve energy during winter. He will now move to an indoor habitat with a new neighbor, a red-footed tortoise named Mortimer.
Read more »
ENA Token Struggles Amidst Whale Sell-Offs and Declining Investor ConfidenceThe ENA token experiences a brief rally but faces continued selling pressure from large investors. Whale-driven sell-offs and declining new address adoption contribute to a bearish market sentiment.
Read more »
Whale Accumulation Fuels Optimism for ONDO TokenRecent whale accumulation and large transactions signal renewed confidence in the ONDO token, despite recent price fluctuations. Analysts are closely watching the token's movement within key support and resistance levels.
Read more »