LDO Rally Continues With Latest Double-Digit, 24-Hour Gains

• LDO is one of the cryptos that benefited from the latest 24-hour trade volume spike.
• The altcoin’s price has strengthened against BTC and ETH by double digits.
• Lookonchain shared the transactional behavior of an LDO whale in a tweet today.

Lido DAO (LDO) was another beneficiary of the buy volume injection that took place over the last 24 hours. According to CoinMarketCap, the price of LDO has surged 25% over the last 24 hours. This has propelled its price to $1.89 at press time.

LDO has also strengthened against the two crypto leaders, Bitcoin (BTC) and Ethereum (ETH), and printed double-digit gains against both. Currently, LDO’s price has strengthened against BTC by 23.13% and ETH by 20.52%.

The trading volume for LDO has skyrocketed as well over the last 24 hours. The altcoin’s trading volume stands at $279,124,935 at press time. This is a whopping 542.24% increase compared to yesterday’s trading volume.

The blockchain analytics firm, Lookonchain (@lookonchain), posted a tweet today regarding the transactional behavior of a particular whale. According to the tweet, the investor “0x0f89” sells LDO every time the price rises. The tweet also stated that this whale address has sold approximately 3.1 million LDO since the first of January this year.

Despite the large amounts of LDO that this address has sold, the whale wallet still contains 2.12 million LDO, which is around $4.11 million at current prices, the tweet concluded.

LDO’s price has formed a steep ascending price channel on its daily chart after printing higher highs and higher lows over the last week. This price channel has boosted LDO’s price from a low of $0.946 to a high at $2.640, before LDO’s price was brought back down to $1.969.

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