Whale's $685K Bet on LDO's Long-Term Prospects
1min read Despite recent losses, a prominent whale, identified as 0x373, continues to accumulate Lido's LDO token, signaling a strong belief in the project's long-term prospects. In the last three hours alone, the whale swapped 250 WETH, worth approximately $685,000, for 386,701 LDO tokens at an average price of $1.772 per token.
This latest transaction is part of a near-continuous buying spree that began on January 24, 2025. Over the course of 13 days, the whale has acquired a total of 3.354 million LDO tokens at an average price of $1.951 per token. Despite the recent setback, with the address down by around $538,000 or about 8.23% on the most recent LDO buy orders, the whale remains undeterred and continues to buy more LDO tokens.
This is not the first time the whale has shown interest in Lido's LDO token. From June 16 to June 30, 2024, the whale traded an enormous amount of LDO, buying 281,213 LDO at an average price of about $2.35 per token. However, the cryptocurrency was not trading favorably at that time, and the whale ended up taking a hit, with the total loss amounting to $65.96K, or about -10.9%.
The whale's recent actions suggest a long-hold strategy with a long-term vision for the token's price. Despite past losses, the whale's confidence in Lido's future remains unshaken. This behavior is not uncommon among whales, who understand the volatile nature of the cryptocurrency market, especially in the DeFi space. Their large trades often have a noticeable effect on the price of a token, both in the short term and over longer periods of time.
The whale's actions have sparked conversations within the crypto community, particularly among those who closely follow governance tokens. Many are now watching to see whether Lido's governance token, LDO, will bounce back from its dip in price. Lido, a decentralized staking platform, has seen almost uninterrupted growth, and many Lido followers are betting 
