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The on-chain funds that once made $2.27 million in a day on APE have now bet more than 5x long on $LDO . The two wallets hold a total of 5.57 million tokens, which is approximately $5.16 million at the current price.
This move seems to be a continued bet on the staking sector's sustainability, and in the short term, it will bring stronger emotional premiums to $LDO , but 5x leverage also means that large fluctuations could look ugly. $LDO $ETH