Opportunistic Whale Makes Big Sale of Rallying Altcoin

The cryptocurrency whale with the short name 0xdb1 sold 626,487 Lido DAO Tokens (LDO) for a total of 1.65 million dollars.

In the transaction, LDO was exchanged for stablecoin and stETH at an average price of $ 2.63. At the time of this writing, LDO price is trading at $2.56.

This sale is part of extensive trading activity by the whale, which has sold a total of 874,587 LDOs, equivalent to $2.25 million, at an average price of $2.57 via Decentralized Exchanges (DEX) in the last 13 hours.

Whale purchased 974,588 LDOs worth $2.28 million between December 5-10, 2023, at an average price of $2.57. Whale started taking profits after the LDO price increased by 13% today.

Despite the large volume of sales, the whale still retains a significant amount of LDO. The whale currently holds 100,001 LDO worth $261,000. The estimated total profit from these transactions is approximately $234,000.

Following the whale’s initial LDO sale, the LDO price experienced a slight decline, falling approximately 3% from today’s high of $2.7.

Graph showing the rise in the LDO price over the last week.

*This is not investment advice.

Source