Brevan Howard's Estimated Address Deposits Millions of LDO on Binance

IconCryptoNewsTerminal Staff23 Jul, 2024

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Brevan Howard's Estimated Address Deposits Millions of LDO on Binance

Brevan Howard Digital, the crypto-focused investment arm of Brevan Howard, has deposited 2.95 million Lido DAO (LDO) tokens, worth approximately $5.4 million, on Binance, according to blockchain analytics firm Lookonchain. This recent deposit is part of a larger purchase made by Brevan Howard Digital between October 10th and November 20th of last year, when the firm acquired 3.75 million LDO tokens at an average price of $1.65 on Binance. Based on the current market price of LDO, Brevan Howard Digital's estimated profit from selling the recently deposited LDO tokens is around $537,000. Brevan Howard Digital's latest move highlights the growing institutional interest in the Lido DAO ecosystem, which has become a popular destination for investors seeking to earn yield on their staked Ethereum assets. As more institutions embrace the benefits offered by Lido DAO, we can expect to see continued growth and adoption of the platform.

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