About 1.95 Million LDO Accumulated By 3 Whales In The Last Week

Key Points:

• Three whale addresses were found to have accumulated an increase in Lido’s holdings of approximately 1.95 million LDO tokens over the past week.
• The most extensive liquid staking protocol on Ethereum has just successfully launched its most significant upgrade, Lido V2.
• The LDO token has increased by more than 7% in the past 24h.

According to Lookonchain monitoring, the three giant whale addresses increased their holdings by around 1.95 million LDO in the past week before the Lido protocol completed a significant update.

Among them, “0x9EA7” raised 724,822 LDO (about 1.52 million USD) from Binance with a unit price of 2.01 USD; “0x4E4e” raised 655,641 LDO (approximately 1.38 million USD) from Binance with a unit price of 1.83 USD and purchased 570,883 LDO for 974,000 USDC at a unit price of 1.71 USD.

At the end of May 15, Lido Finance successfully upgraded to version V2 – a significant change that allows users to withdraw staking Ethereum from the platform. Previously, the protocol opened voting on the implementation of V2 on May 12.

The V2 upgrade is considered the most critical update on Lido Finance, following the hard fork of Shapella last month to unlock large amounts of ETH for investors. Since then, Lido V2 has been continuously tested and undergone 9 rigorous evaluations.

With Lido V2, there will be 270,000 ETH available in the Withdrawals vault, so investors can make asset withdrawal requests without waiting too long. After this amount of ETH is drained, the vault will continue to be pumped more. In other words, investors have a better chance of returning their ETH in the first three days of unlocking, Lido said. The maximum time to exit the queue is 5 days and 14 hours, Rated network Explorer estimates.

The positive news from the update has helped the price of the LDO token increase by more than 7% in the last 24 hours, and it is currently trading at $2.1.

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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