The crypto market is bleeding as the highest digital currencies, together with Bitcoin (BTC) and Ethereum (ETH) are buying and selling within the crimson right this moment. However, Lido DAO (LDO), a DeFi token, grabbed the highlight with its distinctive value surge. The crypto gained over 15% within the buying and selling session on Saturday, January 6, 2024, and attained a brand new 52-week excessive of $3.61.
Whale Swaps RNDR For LDO
According to a put up by Spot On Chain on X, a whale dealer, recognized as 0xfc9, executed a considerable portfolio shift on Coinbase within the early hours of Saturday. The dealer swapped Render (RNDR) for Lido DAO (LDO).
The whale first deposited 750,000 RNDR valued at round $3.01 million on the time and withdrew 450,000 LDO tokens value roughly $1.5 million. These transactions passed off amid appreciable market volatility.
Thereafter, the RNDR value skilled an 11% decline during the last 24 hours. Whilst, the LDO value surged by 13% throughout the identical interval. The dealer traded seven different tokens, together with Fetch.ai (FET) and Aave (AAVE), and locked in whole earnings of $8.95 million.
Also Read: Crypto Prices Today: Bitcoin Price Nears $44K, Lido DAO (LDO) Up 14%, While Pepe Coin Slips
Lido DAO Price Today
The Lido DAO price surge slowed down after hitting the 52-week excessive of $3.61. At the time of writing, the LDO value was up by 6.28% and the crypto traded at $3.24. This suggests a drop of over 10% from its current excessive.
The digital asset boasted a market cap of $ 2.88 billion, up by 6.18% at press time. Moreover, the LDO value rally was supported by a robust rise in demand. Its 24-hour commerce quantity spiked by 37.76% to $280.28 million.
Furthermore, LDO has clocked in spectacular 1-month returns that quantity to over 38%. Additionally, up to now 12 months, it has soared over 153% in worth. However, regardless of the current bullish end result, the crypto remains to be buying and selling 70.77% low from its all-time excessive of $11.
According to TradingView analytics, the LDO value is buying and selling pretty above its 10-day and 50-day EMA of three.012 and a couple of.504, respectively. It represents a bullish sentiment, supporting the continuing rally. Whilst, the RSI worth stands impartial at 63.
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