• LDO has surged by 5.67% over the past 24 hours.
• Lido DAO whale scooped 2.72 million LDO tokens worth $4.9 million.

Over the past three days, Lido DAO [LDO] has made significant gains on its price charts. Over this period, it has surged from a low of $1.55 to a high of $2.00.

Since hitting $2, Lido DAO has made a slight pullback. As of this writing, it is trading at $1.84. This marks a 5.67% increase on daily charts. It has also gained 2.45% on weekly charts and 8.49% on monthly charts.

With sustained gains across the charts, investors have turned optimistic. This positive perception is more prevalent among whales, who have started accumulating.

Lido DAO’s whale activity spikes

According to SpotOnChain, a dormant Lido DAO whale has woken after a year to spend $5 million. This whale has accumulated 2.72 million LDO tokens worth $4.9 million over the past day.

When a whale decides to add its holdings, it signals market confidence and bullish sentiments.

Whale activity was rising in the broader LDO market, evidenced by a surge in large holder inflow. This inflow has spiked from 12 million tokens to 19 million, with more capital inflows than outflows.

As a result, large holders’ netflow has remained positive over the past seven days. This market trend implies that large holders are confident in the market and are taking the opportunity to accumulate.

Any impact on LDO Charts?

As expected, increased whale activity has positively impacted LDO. This demand by whales has created a higher buying pressure, which is driving prices up.