This ‘Whale’ Hunted Crypto Asset Soared 120% More!

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The sharp increase in Ether cannot be separated from the plan for the biggest change in the history of the Ethereum protocol or what is called The Merge.

The Merge is a transition from consensus protocol proof-of-work (PoW) to consensus protocol proof-of-stake (PoS) to be used by blockchain Ethereum.

With this change, the energy consumption of Ethereum will decrease significantly. In fact, Etherum’s energy consumption is said to be reduced by 99.95%. Upgrade from PoW to PoS also aims to increase the speed, efficiency and scalability of the Ethereum network.

In essence, The Merge will make Ethereum more environmentally friendly and process more transactions.

Another crypto asset that has benefited the most from The Merge is Lido DAO, whose value has shot up more than 120%.

Lido DAO is a crypto project staking on Ethereum, and has recently been hunted by “whales” or whale. According to WhaleStats, Lido DAO is in the top 10 tokens purchased by whale wallet ETH. Crypto wallet under the name “Saitama” reportedly bought Lido DAO tokens worth US$2.32 million in a single transaction, as reported Coin GapeSaturday (16/7/2022).

In the last 24 hours, Lido DAO has shot up more than 40%.

In addition to Lido DAO, the following crypto assets have been able to soar in the last 7 days.

Here are the crypto assets that recorded the worst performance in the last 7 days.

[Gambas:Video CNBC]