Over $2 Million In LDO Is Transferred To Binance By An LDO Whale

Key Points:

• A wallet containing a significant amount of LDO transferred $1,000,000 $LDO to Binance.
• This whale’s address still includes Etherscan data worth $13 million LDO ($25.6 million). This wallet address paid 300,000 $LDO to Binance on January 2, 2023.

A wallet with a substantial amount of LDO has transferred $1,000,000 $LDO to Binance.

One million dollars’ worth of LDO was sent from a wallet holding a sizable this token balance to the cryptocurrency exchange Binance. The departing wallet address, according to Lookonchain, is: 0x1f3813fe7ace2a33585f1438215c7f42832fb7b3. According to Etherscan data, which sent over 1,000,000 this token ($2.1 million) to Binance. This whale’s address still has $13 million LDO ($25.6 million) in Etherscan data. On January 2, this wallet address sent 300,000 $LDO to Binance.

On December 17, 2020, this address raised 20 million $LDO and began selling this token on January 5, 2022. This whale sells Lido token at a rather high price on a regular basis, with an average selling price of $2.16. Wallets holding huge amounts of this token are becoming more active, as Ethereum developers are rumored to have chosen a date for Ethereum’s forthcoming Shanghai Hard Fork upgrade.

The Shanghai (Shanghai) version addresses three critical Ethereum issues. Hard Fork Shanghai modifies the EVM object format, removes Beacon Chain, and lowers L2 costs. The Ethereum Shanghai upgrade is scheduled for early 2023, a few months after The Merge. The next scheduled update is expected for March 2023. According to DefiLlama data, Lido DAO has overcome MakerDAO to take the top spot in the latest TVL rankings. Lido DAO Total Locked Assets (TVL) is now at $6.55 billion, while MakerDAO is at $6.45 billion.

Lido is an easy-to-use, decentralized platform that offers staking services for Ethereum 2.0, Terra, Solana, and Kusama. The Lido DAO is a decentralized autonomous organization that controls the liquid staking protocol by choosing essential parameters (e.g., set fees, assign node operators and oracles, etc.) using governance token holders’ voting rights. Furthermore, the DAO will collect service fees and use them to fund insurance, research, development, and protocol improvements.

Lido DAO’s current daily trading volume is around $200 million in the last 24 hours. According to Coinmarketcap, the price of Lido DAO Token has climbed by almost 6.3% in the last 24 hours and approximately 64% in the last seven days.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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