Lido DAO’s LDO Climbs 8%: Whale Buys $4.9M in a Week

• A whale swapped 1,512 ETH and 10,500 FXS to acquire 2.72 million LDO tokens.
• The whale’s last LDO purchase was in January 2024 and now holds 5.765 million tokens.
• The whale has suffered losses as the average buying cost was $1.82 and LDO trades at $1.77.

Lido DAO’s native token, LDO, climbed 8.25% this week, with blockchain data revealing a major whale purchase. The whale, identified as “0x655,” swapped 1,512 ETH (valued at $4.9 million) and 10,500 FXS ($4.98 million) to acquire 2.72 million LDO tokens.

According to Spot On Chain, the average purchase price was $1.833 per token. As of writing, LDO is trading at $1.78, marking a 0.37% dip in the past 24 hours. Despite this decline, the token remains the centerpiece of the largest decentralized finance protocol, with Lido Finance holding a total value locked (TVL) of $31 billion, per DeFiLlama.

Whale’s History and Current Losses

The same whale last purchased LDO in January 2024 and now faces a $1.74 million loss on its holdings. The token is trading 90.5% below its all-time high of $18.62, recorded in November 2021 during the bull run.

However, Lido Finance’s status as the largest staking …

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