The crypto market is bleeding as the highest digital currencies, together with Bitcoin (BTC) and Ethereum (ETH) are buying and selling within the purple immediately. Nevertheless, Lido DAO (LDO), a DeFi token, grabbed the highlight with its distinctive worth surge. The crypto gained over 15% within the buying and selling session on Saturday, January 6, 2024, and attained a brand new 52-week excessive of $3.61.
Whale Swaps RNDR For LDO
Based on a put up by Spot On Chain on X, a whale dealer, recognized as 0xfc9, executed a considerable portfolio shift on Coinbase within the early hours of Saturday. The dealer swapped Render (RNDR) for Lido DAO (LDO).
The whale first deposited 750,000 RNDR valued at round $3.01 million on the time and withdrew 450,000 LDO tokens price roughly $1.5 million. These transactions befell amid appreciable market volatility.
Thereafter, the RNDR worth skilled an 11% decline over the past 24 hours. While, the LDO worth surged by 13% throughout the identical interval. The dealer traded seven different tokens, together with Fetch.ai (FET) and Aave (AAVE), and locked in whole earnings of $8.95 million.
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Lido DAO Worth In the present day
The Lido DAO price surge slowed down after hitting the 52-week excessive of $3.61. On the time of writing, the LDO worth was up by 6.28% and the crypto traded at $3.24. This implies a drop of over 10% from its latest excessive.
The digital asset boasted a market cap of $ 2.88 billion, up by 6.18% at press time. Furthermore, the LDO worth rally was supported by a powerful rise in demand. Its 24-hour commerce quantity spiked by 37.76% to $280.28 million.
Moreover, LDO has clocked in spectacular 1-month returns that quantity to over 38%. Moreover, up to now 12 months, it has soared over 153% in worth. Nevertheless, regardless of the latest bullish end result, the crypto remains to be buying and selling 70.77% low from its all-time excessive of $11.
Based on TradingView analytics, the LDO worth is buying and selling pretty above its 10-day and 50-day EMA of three.012 and a couple of.504, respectively. It represents a bullish sentiment, supporting the continued rally. While, the RSI worth stands impartial at 63.
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The introduced content material could embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.
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