In the dynamic cryptocurrency market, Lido DAO (LDO) experienced a substantial 12% surge in the last 24 hours, reaching $3.6, while its market capitalization stands at an impressive $3 billion.
Santiment’s recent revelation highlighted Lido DAO among the tokens witnessing a surge in address activity, indicating growing interest and participation since the beginning of the year.
Today, Spotonchain detected a strategic move by a smart trader identified as “0xfc9,” who successfully executed a swap from $RNDR to $LDO on Coinbase amid significant price fluctuations. This strategic maneuver resulted in an 11% drop in $RNDR’s value on the 24-hour chart, while $LDO demonstrated robust growth with a 13% increase during the same period.
🚨 Smart trader 0xfc9 with $8.95M profit just swapped $RNDR for $LDO via #Coinbase amid sharp price changes!
– $RNDR dropped ~11% (24H) while $LDO surged strongly by 13% (24H).
– The whale deposited 750K $RNDR ($3.01M) to #Coinbase at $4.01 and then withdrew 450K $LDO ($1.5M)… pic.twitter.com/mTk4Fpa9Jc
— Spot On Chain (@spotonchain) January 6, 2024
750,000 $RNDR Deposit Into Coinbase
The detailed transaction involved the whale depositing 750,000 $RNDR ($3.01 million) into Coinbase at $4.01 and subsequently withdrawing 450,000 $LDO ($1.5 million) at $3.33 just a few hours ago.
Lido DAO (LDO) has been on an impressive trajectory over the past 12 months, showcasing a remarkable 150% price surge. Positioned among the top 100 crypto assets, LDO stands out as an outperformer, reflecting the positive market sentiment and investor confidence in its potential.
📊 #Litecoin, #Maker, and #LidoDao are all seeing rapidly rising address activity. Typically, this gradually rising utility is accompanied by market cap growth. While $MKR and $LDO have seen this come to fruition, $LTC has yet to see a similar rise. https://t.co/hOwwknnP98 pic.twitter.com/rbmswUrx82
— Santiment (@santimentfeed) January 4, 2024
This strategic move by the whale not only influenced the individual token prices but also sparked broader market activity, emphasizing the interconnected and dynamic nature of the cryptocurrency landscape.
Market participants are closely monitoring these strategic maneuvers. Also, the crypto community remains attentive to further developments and potential trends influenced by significant transactions.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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