Wale drops $3 million in INJ and buys LDO
The whale sold over 150k Injective (INJ) tokens worth over $3.29 million. According to Lookonchain, the whale acquired 2.44 million Lido DAO (LDO), worth more than $3.05 million. As LDO increases, the value of INJ decreases slightly.
A whale sold a large amount of Injectable (INJ) and bought more Lido DAO (LDO) tokens.
On Wednesday, September 25th, Lookonchain shared on-chain details showing that the whale dropped 150,428 INJ for $3.29 million. The whale traded INJ for 2.44 million LDO at a price of over $3.05 million.
On Loonchain, Whale sold their INJ to LDO through crypto liquidity provider Cumberland.
A whale sold $150,428 INJ ($3.29M) and bought $2.44M LDO ($3.05M) via #Cumberland in the last 30 hours. pic.twitter.com/ESXmWIGoFJ
— Lookonchain (@lookonchain) September 25, 2024
Injection price
Injection (INJ) is a layer 1 blockchain for decentralized financial applications. The Binance and Mark Cuban-supported interoperable L1 blockchain is currently the 49th largest cryptocurrency in the market at $2.1 billion.
The value of Injective's home token is down 3% to trade near $21.24. INJ trading saw its lowest weekly gain fall to 14%, while Injectiv was down 1.4% last month. Notably, INJ reached $22.70 on Tuesday, hitting a resistance level seen on August 24.
INJ's price, however, reached $52.62 on March 14, 2024 and is currently down about 59% from that level.
Lido DAO price
With LDO's purchase, the Whalers are showing their high regard for Lido. The development of the decentralized financial platform – the market leader in Ethereum staking – can be among the motivators.
The price of Lido DAO has increased by 2.6% in the last 24 hours to change hands at $1.29 higher on the day. LDO is one of the top gainer tokens last week with +29.7%.
The LDO price was at $1.26 at the time of this writing.
