Brevan Howard Digital Transfers Lido DAO LDO Tokens To Binance
Only within the near past, a substantial series of Lido DAO (LDO) tokens chanced on their system to Binance, the notorious cryptocurrency exchange platform, courtesy of Brevan Howard Digital, a eminent US-primarily primarily based mostly crypto investment company also identified as Dragonfly Capital.
In response to insights from the on-chain analytic company Spotonchain, Brevan Howard Digital performed the transfer of the closing 584,433 LDO tokens, valued at $1.62 million, to Binance at a fee of $2.77.
Brevan Howard Digital (aka Dragonfly Capital) deposited 599,123 $LDO ($1.63M) to #Binance at $2.72 ~2hrs ago.
Previously 4 days, the VC has deposited 2.45M $LDO ($6.77M) to CEX at ~$2.77,
and could just transfer out the closing 584K $LDO ($1.6M) soon!
Est. total profit: $9.17M (+21%).… pic.twitter.com/PUDGosuP5V
— Derive On Chain (@spotonchain) February 6, 2024
Over the course of 5 days, the venture capital company accomplished a series of transactions, depositing a total of 3.031 million LDO tokens, reminiscent of $8.38 million, to Binance at an average mark of $2.77 per token.
$9.19M Investment Earnings Realized By Brevan Howard Digital
Remarkably, Brevan Howard Digital has realized an estimated profit of $9.19 million, marking a essential 20.8% price bigger, from its dealings with LDO tokens.
The course of enthusiastic the acquisition of 23.84 million LDO from various platforms much like Binance, Copper, and decentralized exchanges at an average mark of $1.852 million between July 15, 2021, and July 23, 2023.
Due to the this truth, the company step by step sold these tokens all over centralized and decentralized exchanges at an average mark of $2.24, totaling $53.3 million, starting from August 15, 2021, on every occasion the fee surged.
Irrespective of LDO’s present uptick of 2.5% within the closing 24 hours, the token has skilled a decline of over 5% in value over the last seven days.
The circulation of Lido DAO tokens by Brevan Howard Digital to Binance has drawn attention within the crypto community, prompting discussions about its potential implications for the market dynamics and investor sentiments surrounding LDO.
Disclosure: Right here’s no longer trading or investment advice. Continuously elevate out your analysis sooner than having a scrutinize any cryptocurrency or investing in any services.
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