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 platform gives LDO a bullish narrative. With renewed interest from whales, the token’s accumulation levels are steadily rising, forming a potential foundation for price recovery.

LDO Price Analysis: Key Indicators and Projections

LDO’s daily chart indicates an upward trend in accumulation since November, signaling growing momentum. Breaking the $2 resistance is critical, especially with the market rally spurred by Donald Trump’s pro-crypto administration.

The Relative Strength Index (RSI) on the weekly chart reads 52.11, suggesting bullish sentiment. A steeper gradient in the RSI line indicates increased buying pressure, supporting a positive price outlook.

While LDO remains significantly below its all-time high, whale activity and its integral role in Ethereum staking hint at long-term growth. Speculation around World Liberty Financial’s reported use of Lido Finance for staking adds another layer of optimism for the token’s future.

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