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Whale Capitalizes on Opportunity, Sells Large Quantity of Surging Altcoin

Opportunistic Whale Makes Big Sale of Rallying Altcoin

The cryptocurrency whale with the alias 0xdb1 recently conducted a significant trade, selling 626,487 Lido DAO Tokens (LDO) for a total of $1.65 million. This transaction involved the exchange of LDO for stablecoin and stETH at an average price of $2.63, while the current trading price for LDO stands at $2.56.

This sale is part of a broader trading pattern by the whale, who has sold a total of 874,587 LDOs, equivalent to $2.25 million, at an average price of $2.57 through Decentralized Exchanges (DEX) in the last 13 hours. It’s worth noting that the whale initially purchased 974,588 LDOs worth $2.28 million between December 5-10, 2023, at an average price of $2.57, and started taking profits as the LDO price surged by 13% today.

Despite the substantial volume of sales, the whale still holds a significant amount of LDO, currently owning 100,001 LDO valued at $261,000. The estimated total profit from these transactions amounts to approximately $234,000.

Following the whale’s initial LDO sale, the LDO price experienced a slight decline, dropping by approximately 3% from today’s peak of $2.7. This trend is illustrated in the graph showing the recent rise in LDO price over the last week.

It’s essential to note that the information provided is not intended as investment advice. This data serves as a valuable insight into the trading behaviors within the crypto space, particularly in the context of whales and token movements.