Lido (LDO), which provides liquid staking for PoS Blockchains, has seen the largest whale transaction in the last two years. Analytical platform Santiment commented on the $ 135 million transfer of altcoin whales as follows…
Lido (LDO) witnesses biggest whale transaction in two years
Lido Dao’s $135 million transfer captured crypto headlines over the weekend. Lido Dao, currently ranked 35th in market cap, showed that a significant portion of its supply has been moved from one personal storage address to another.
The massive 70 million LDO transfer was the eighth largest transaction of all time on the LidoDao network. Investors are eager to learn the reasons behind such a large transaction. The analytics platform Santiment clarifies the issue with its new analyzes.
https://twitter.com/santimentfeed/status/1654943486033149952
What does the loaded altcoin transfer portend?
According to Santiment, the transfer was made by a large institutional investor who chose to move cryptocurrencies from one personal storage address to another for security reasons. The identity of the investor remains a mystery. However, the transfer is seen as a positive sign for the Lido Dao network, which has been gaining traction in recent months.
However, the LDO transfer also showed that institutional investors were beginning to realize its potential. It also highlights the growing interest in DeFi platforms, which are seen as a viable alternative to traditional finance.
Lido Dao, DeFi platform that allows users to stake ETH and earn rewards in the form of LDO. The platform is gaining popularity due to its high staking rewards and low fees. This makes it the most attractive option for investors looking to earn passive income.
Regarding TVL, Lido’s value had fallen compared to the highs recorded in the first few months of the year. At the time of this writing, Lido TVL was $12.22 billion, down 2.22% in the last 24 hours.
Are LDO investors determined?
Prior to the latest transfer, on-chain data showed minimal movement in long-term assets. According to Santiment, the 90-day idle circulation was 18,300. However, it should be noted that there was also an increase in the metric on May 2. However, for most of the last three months, LDO has been idle in these owners’ bags. This shows that many holders agree with the decision to keep their tokens.
Also, the Realized market capitalization HODL (RHODL) waves are currently rising significantly. This metric adopts HODL waves by evaluating the number of LDOs held from a long-term perspective. However, it also considers the application of the realized ceiling as a ratio. By doing this, the metric can drop when there is euphoria in the market to sell.
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