CandleFocus Lido DAO price falls sharply as whale dumps LDO tokens
2024-10-31
Author: Content Editor
Lido DAO's price experienced a sharp decline alongside the broader crypto market as Bitcoin dipped to around $70,700. The price of Lido DAO decreased by over 10% on October 31 before partially recovering. The sell-off was potentially triggered by the U.S. Personal Consumption Expenditures index for September, which negatively affected both Lido DAO and Bitcoin. Additionally, a whale address that had held Lido DAO for three years sold off its entire holding, resulting in further downward pressure on the token's price. The sale took place just before Ether's price also dropped. Lido DAO holders are currently down 41% over the past year, and further declines could push more holders into a loss.
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