Data shows increased whale accumulation around the asset. Lido DAO (LDO) is up 33% in the past 24 hours and is trading at $1.40 at the time of writing.
Cryptocurrency price tracking platform CoinMarketCap showed Lido DAO (CRYPTO: LDO) enjoyed a strong bull run on Thursday evening, with data indicating increased whale accumulation around the asset.
The token surged over 33% in the past 24 hours and was trading at $1.40 at the time of writing. Its market cap stood at $1.26 billion, with a daily trading volume of over $300 million.
LDO’s bullish momentum began after Bitcoin (CRYPTO: BTC) price hit a new all-time high of over $75,000 following Donald Trump’s victory in the U.S. presidential elections on Wednesday, Nov. 6.
Despite the price hike, LDO was still down by 92% from its ATH of $18.6 in November 2021.
The asset’s Relative Strength Index crossed the 80 mark, indicating that the token has entered the overbought zone, according to data.
Whale activity preceded rally
On-chain data showed increased whale activity around LDO prior to its price surge.
According to data from IntoTheBlock, the token’s large holder net inflow increased from 645,000 LDO to 69.26 million LDO on Wednesday.
This marked the highest level of LDO whale net inflows since May 2023, when the asset was trading close to the $2 mark.
The movements highlighted whales’ strong accumulation and interest in LDO.
Rising large holder inflows typically trigger the fear of missing out, or FOMO, among investors, according to IntoTheBlock.
Considering that over 60% of Lido DAO’s supply is held in large whale addresses, the sudden price surge could lead to massive price fluctuations, the market intelligence platform said.
The market-wide FOMO could also contribute to LDO’s price volatility.
The above is the detailed content of Lido DAO (LDO) Records Strong Bull Run as Positive Sentiment Surrounds the Crypto Market. For more information, please follow other related articles on the PHP Chinese website!
Bitcoin (BTC) Whales Slow Down Accumulation, Signaling A Bearish OutlookAug 22, 2024 pm 09:24 PMThe Bitcoin (BTC) market appears to be now experiencing a concerning trend, according to the latest report from an on-chain data provider, CryptoQuant.
Bitcoin (BTC) Poised for a Significant Rally to a “Six-Figure” Price, Says Bitwise CIO Matt HouganOct 19, 2024 am 06:10 AMBitwise CIO Matt Hougan said Bitcoin (BTC) is poised for a significant rally to a “six-figure” price amid a convergence of several key factors
Court Rules Lido DAO Members Liable Under Partnership LawsNov 20, 2024 am 01:36 AMThe case focuses on the decentralized governing body behind the popular liquid staking protocol (LSP). Nevertheless, this precedent marks a landmark decision with significant implications for decentralized governance.
Bitcoin Whales Are Loading Up, and That Looks a Lot Like It Did Before the 2020 RallyOct 20, 2024 am 12:58 AMSpot Bitcoin exchange-traded fund inflows shot up more than 580% this week, as one analyst pointed out that whales were loading up on Bitcoin at a pace akin to the lead-up to the 2020 rally.
Aave (AAVE) Crypto Price Prediction: A Look at the Whale TransactionOct 14, 2024 am 07:08 AMLeading DeFi protocol, Aave (AAVE) crypto, has been on a roll this week, with a 12% price rise. A combination of increasing demand and a rise in whale inflows fuels this surge.
Mt. Gox Resumes Bitcoin Transfers as Whales Continue to Accumulate BTCAug 21, 2024 pm 06:33 PMMt. Gox has resumed Bitcoin transfers aligning with its strategy to repay its rehabilitation creditors. According to a recent report, the exchange moved a staggering
Lido DAO (LDO) Records Strong Bull Run as Positive Sentiment Surrounds the Crypto MarketNov 07, 2024 pm 07:22 PMData shows increased whale accumulation around the asset. Lido DAO (LDO) is up 33% in the past 24 hours and is trading at $1.40 at the time of writing.
Chainlink (LINK) Whales Accumulate as Price Action Hints at Bearish TrendOct 13, 2024 pm 09:38 PMChainlink (LINK) held its ground during Bitcoin's price drop on October 10, triggered by higher-than-expected CPI inflation data.
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
AI Hentai Generator
Generate AI Hentai for free.
Hot Article
Hot Tools
Dreamweaver CS6
Visual web development tools
SecLists
SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.
MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.
mPDF
mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),
ZendStudio 13.5.1 Mac
Powerful PHP integrated development environment
