Lido DAO Skyrockets, but is a Cost Dump In the vicinity of?

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The rate of Lido DAO has been skyrocketing while the protocol secures a top place in TVL, overtaking MakerDAO. But is it approaching a cost dump?

Lido DAO (LDO) was a single of the critical gainers on Monday, with a surge of almost 16%. It is a liquidity-offering option that gives staking benefits to customers if they lock their property with the protocol. 

The Lido Decentralized Autonomous Group (DAO) makes vital conclusions by way of voting by the holders of the LDO tokens.

Resource: BeInCrypto

Lido DAO Secures Prime Location in the Overall Worth Locked

According to info from DefiLlama, Lido DAO has dethroned MakerDAO for the top place in the Complete Price Locked (TVL). The TVL of all the protocols blended stands at $39.02 billion, with Lido DAO dominating 15.35%. It has a TVL of nearly $6 billion, whilst MakerDAO is not a lot behind with $5.94 billion locked. Aave stands in the third situation with a TVL of $3.74 billion.

Total Value Locked in crypto protocols
Resource: DefiLlama

In accordance to the formal website, the people have staked over $5.89 billion in Ethereum, $26.28 million in Solana, and $45.66 million in Polygon. End users have also staked virtually $11 million in Polkadot and around $2.26 million in Kusama.

The Selling price Skyrockets but is the Whale Organizing to Market the Pump?

Upon the price increase on Monday, an LDO whale 0x1f38 transferred 300,000 tokens to 0x0287. The whale previously applied 0x0287 wallets to transfer the Lido DAO tokens to Binance. They have not moved the new 300,000 tokens to any trade still, but will they?

Lido DAO whale activity
Supply: Etherscan

According to Lookonchain, the whale usually sells when the price is higher. The wallet promoting LDO considering the fact that Jan. 2022 now holds more than 14.4 million tokens. Is a dump incoming?

The chart representing the whale selling at highs
Source: Twitter

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Disclaimer

BeInCrypto has attained out to organization or individual involved in the story to get an formal assertion about the current developments, but it has however to hear back.

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