Significant LDO Movements As Address Deposits 3.76 Million LDO To Coinbase

In the wake of a 10% decline in LDO over the past week, a significant transaction has drawn attention.

An address identified as 0x0ff…07A85 deposited 3.76 million LDO into Coinbase within the last day, a holding valued at approximately $6.89 million.

This address initially opened a position of 6.94 million LDO at an average price of $2.32 on April 12, 2023. With the current price of LDO at $1.84, this investor faces substantial losses.

It is suspected that this address sold 3.17 million LDO four days ago. If the remaining 3.76 million LDO is sold, the investor will incur a cumulative loss of approximately $3.05 million.

LDO Market Price Action To Monitor 

Interestingly, despite the recent downturn, LDO has gained 10% in value over the past 24 hours. This surge adds a layer of complexity to the investor’s decision, suggesting potential short-term volatility or recovery.

The market will closely monitor these movements, as such large transactions can significantly impact LDO’s price and investor sentiment.

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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