Lido DAO

AI Crypto

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Lookonchain, a platform offering on-chain metrics, recently unveiled data showcasing enormous whale transfers revolving around the LDO token today, November 20. 
The colossal amounts of Lido coins transferred from exchanges to wallets caught the eyes of crypto market enthusiasts globally as two whales withdrew millions of coins from <a href="https://coingape.com/glossary/Crypto-exchange-2/" target="_blank" rel="noopener">crypto exchanges</a> over the past few days amid the price surge witnessed by the token. 
Simultaneously, the LDO price experienced a substantial price jump at the time of writing, displaying positive market sentiments within the world of cryptocurrencies. 
<h2 id="whales-accumulating-lido-dao">Whales Accumulating Lido DAO</h2> 
As per the market data offered by Lookonchain, an unknown wallet, 0x011D19…4e27, withdrew 1.47 million LDO from Binance, the world’s leading cryptocurrency exchange, today. The amount withdrawn totals $3.6 million as of writing. 
Besides, according to on-chain data, the same wallet caught the eyes of crypto traders and investors as it withdrew 5.9 million LDO, amounting to $14.5 million, over the past few days, through a series of transactions. 
<figure id="attachment_165006" aria-describedby="caption-attachment-165006" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-165006" src="https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-0x011.4e27.png" alt="Lookonchain chart for wallet 0x011...4e27" width="777" height="350" srcset="https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-0x011.4e27.png 1481w, https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-0x011.4e27-300x135.png 300w, https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-0x011.4e27-1224x551.png 1224w, https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-0x011.4e27-768x346.png 768w, https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-0x011.4e27-150x68.png 150w" sizes="(max-width: 777px) 100vw, 777px">
 <figcaption id="caption-attachment-165006" class="wp-caption-text">
 Lookonchain chart for wallet 0x011…4e27
 </figcaption>
</figure> 
Furthermore, another wallet, FalconX, <a rel="nofollow" href="https://etherscan.io/token/0x5a98fcbea516cf06857215779fd812ca3bef1b32?a=0x43fed72b921af413aad831cebd221697b18da54f" target="_blank">withdrew</a> 1.26 million LDO, amounting to $3.1 million, from Binance today. The wallet address FalconX has withdrawn 4.9 million LDO to date, amounting to $12 million. 
<figure id="attachment_165007" aria-describedby="caption-attachment-165007" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-165007" src="https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-FalconX.png" alt="Lookonchain chart for wallet FalconX" width="755" height="349" srcset="https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-FalconX.png 1478w, https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-FalconX-300x139.png 300w, https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-FalconX-1224x566.png 1224w, https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-FalconX-768x355.png 768w, https://coingape.com/wp-content/uploads/2023/11/Lookonchain-chart-for-wallet-FalconX-150x69.png 150w" sizes="(max-width: 755px) 100vw, 755px">
 <figcaption id="caption-attachment-165007" class="wp-caption-text">
 Lookonchain chart for wallet FalconX
 </figcaption>
</figure> 
The aforestated whale movements nabbed significant attention throughout the crypto realm as these transfers were done amid the LDO price rally. 
The accumulation of <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrencies</a> by whales usually portrays a possible bullish sentiment orbiting the token as the circulated supply declines, resulting in a possible surge in demand and price. 
Also read: <a href="https://coingape.com/philippines-makes-historic-move-with-270-mln-maiden-tokenized-bond-sale/" target="_blank" rel="noopener">Philippines Makes Historic Move With $270 Mln Maiden Tokenized Bond Sale</a> 
<h2 id="lido-dao-ldo-price-report">Lido DAO (LDO) Price Report</h2> 
The <a href="https://coingape.com/price/lido-dao/" target="_blank" rel="noopener">Lido DAO price</a> noted a significant surge of 10.92%, reaching $2.52 as of writing. The current LDO price evaluates to an all-time monthly high, surging 64.38% over the past month. Moreover, the coin was marginally up by 7.48% over the past week. 
The aforementioned price surge seems to come in alignment with the recent accumulation of colossal amounts of LDO by whales as the token’s availability on exchanges decreases. 
Also read: <a href="https://coingape.com/ai-crypto-tokens-grt-agix-ocean-surge-amid-openais-chronicle/" target="_blank" rel="noopener">AI Crypto Tokens GRT, AGIX, &amp; OCEAN Surge Amid OpenAI’s Chronicle</a> 
The post <a rel="nofollow" href="https://coingape.com/lido-dao-ldo-price-soars-10-amid-massive-institutional-buying/">Lido DAO (LDO) Price Soars 10% Amid Massive Institutional Buying</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Lido DAO (LDO) Price Soars 10% Amid Massive Institutional Buying

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