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Cryptocurrency News Articles
Whale Sells INJ Tokens, Buys LDO Tokens via Cumberland in the past 30 hours
Sep 25, 2024 at 08:16 pm
A whale has sold a significant amount of Injective (INJ) and bought more Lido DAO (LDO) tokens. On Wednesday, Sept. 25, Lookonchain shared on-chain
Cryptocurrency Markets A whale has sold a significant amount of Injective (INJ) and bought more Lido DAO (LDO) tokens.
On Wednesday, Sept. 25, Lookonchain shared on-chain details that showed the whale sold 150,428 INJ valued at $3.29 million. The whale swapped the INJ for 2.44 million LDO valued at more than $3.05 million.
Per Lookonchain, the whale sold their INJ for LDO via crypto liquidity provider Cumberland.
A whale sold 150,428 $INJ($3.29M) and bought 2.44M $LDO($3.05M) via #Cumberland in the past 30 hours.https://t.co/4L8vFWcIng pic.twitter.com/ESXmWIGoFJ
— Lookonchain (@lookonchain) September 25, 2024
Injective price
Injective (INJ) is a layer 1 blockchain for decentralized finance applications. The Binance and Mark Cuban-backed interoperable L1 blockchain currently ranks as the 49th largest cryptocurrency by market capitalization at $2.1 billion.
The price of Injective’s native token fell by 3% to trade near $21.24. INJ trading lower also saw weekly gains shrink to around 14%, while Injective is now down 1.4% in the past month. Notably, INJ reached highs of $22.70 on Tuesday, hitting the resistance level seen on August 24.
INJ price however reached $52.62 on March 14, 2024 and it's currently positioned nearly 59% off that level.
Lido DAO price
With the LDO purchase, the whale is showing their bullish projection for Lido. Growth for the decentralized finance platform — a market leader in Ethereum staking — may be among the catalysts.
The Lido DAO price was up 2.6% in the past 24 hours to change hands at highs of $1.29 earlier in the day. LDO is among the top gaining tokens with +29.7% in the past week.
LDO price was at $1.26 at the time of writing.
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