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Lido DAO Values Surge By 53% In A Week, ETH Whales Prefer This Coin

Manoj Nair




Ethereum Whales are on the prowl looking for their target, and the most significant Ethereum (ETH) whales have in the past 24 hours, zeroed on Lido DAO (LDO). The whale activity has helped the LDO coin to make spectacular gains amid the worst episode of crypto winter.

Lido DAO Preferred By ETH Whales

As per data from WhaleStats the ETH Whales is topped by LDO, which is on the peak of the top 10 tokens purchased by the ETH whale wallets. A wallet named ‘Saitama’ bought more than $2.32 million worth of Lido DAO tokens. This accumulation came out in just one transaction. The whale also holds $95.4 million value of USDC tokens and hints that it wants to hoard more tokens. The same whale also figures at the top of the tokens with the highest trading volume used by the ETH whales. The trading volume of the Lido DAO token’s 24-hour has surged by 400% to stand at $142.3 million.

It is trading at an average price of $1.30 at the press time, up 11.81% in the last 24 hours. The token values have surged by 85% over the past 30 days. However, it is still trading lower by 94% from its all-time high.

Lido DAO TVL Up By 3% In Last 30 Days

Lido has revealed that its total value locked (TVL) has surged by 3% in the past month and stands at $5.28 billion. However, this rise is significant because the overall total DeFi TVL recorded a drop of around 2.8% to stand at $76.7 billion in the same period.

Lido TVL also fell by about 1.5% in the past week but more due to the fall in Ethereum price by 2%.