LDO (Lido DAO) fell 8.44% in the last 24 hours.

Gate News Bot news, on October 17, according to CoinMarketCap data, LDO (Lido DAO) is currently priced at $0.83, with a fall of 8.44% in the last 24 hours, reaching a high of $1.20 and a low of $0.33. The 24-hour volume is $172 million. The current market capitalization is approximately $746 million, a decrease of about $68.73 million from yesterday.

Important news about LDO recently:

1️⃣ Large-scale Token Acquisition Action A suspected single entity controlled 6 wallet addresses that recently carried out a large-scale token acquisition. These wallets purchased various tokens using 1,130 stETH (worth approximately $4.29 million), including 86,807 LDO tokens. This action indicates a positive attitude from certain investors towards LDO, which may support its short-term price.

2️⃣ Multi-Token Portfolio Investment Strategy In addition to LDO, the entity also purchased a large number of UNI and SUSHI tokens, totaling 626,778 UNI and 885,933 SUSHI, respectively. This multi-token investment strategy may reflect the overall investment trend in the DeFi sector, with LDO being an important part of it, attracting attention for its value and future development potential.

3️⃣ New Trend of Trading with stETH It is worth noting that this large transaction used stETH as a payment method. stETH is one of the core products of the Lido protocol, and this usage may indicate that the application of stETH in the DeFi ecosystem is expanding, indirectly reflecting the utility and influence of the Lido DAO project.

Despite the large purchase activity, the LDO price still experienced a fall, which may be related to the overall cryptocurrency market trends or other unknown factors. Investors should closely monitor subsequent market movements and project developments.

This message does not constitute investment advice; investors should be aware of market volatility risks.