NewsDialy
A Big Trader Rolled APE Winnings Into a Leveraged Lido Bet. Here's a story making the rounds in crypto chat groups today, and we want to unpack it without the trader-speak.
A few days ago, this person walked away with about $2.27 million in profit from a single day of trading ApeCoin (that's the token tied to the Bored Ape NFT project, ticker APE). Now they've taken a fresh swing.
They've opened a $3.72 million bet on Lido DAO, ticker LDO. The data comes from Lookonchain, a firm that watches the blockchain for big wallet moves the way some people watch sports scores.
So what does the bet actually look like? They went long, meaning they're betting the price goes up. That's the part that needs translating.
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