A major crypto whale, or possibly an institution, has begun offloading massive amounts of $LDO and $BLUR, injecting millions into exchanges and triggering market-wide concern.
Over the past week, the entity deposited 21.3 million $LDO tokens worth approximately $21.6 million and 34.2 million $BLUR valued at $4 million into centralized exchanges, according to on-chain data confirmed by analyst Lookonchain.
Following this large-scale liquidation, $LDO has seen a sharp 14% decline within the week, currently consolidating at price level of $0.897, highlighting the market’s sensitivity to concentrated selling.
$BLUR mirrored the trend, dropping almost 9% over the same period and is now consolidating around price level of $0.1045, reinforcing the broader bearish sentiment surrounding mid-cap altcoins.
Despite these heavy sell-offs, on-chain data shows that the whale still holds 9.21 million $LDO worth around $8.27 million and 43.69 million $BLUR valued at approximately $4.57 million, keeping traders on alert for further movements.
Beyond $LDO and $BLUR, the same whale also dumped 2.8 million $ENA worth roughly $1.2 million in the past week, signaling a broader reduction in altcoin exposure, as shown by on-chain data.
This coordinated offloading across $LDO, $BLUR, and now $ENA suggests a strategic exit or portfolio rebalancing by a major player. With the market remaining volatile, these wallet movements are being watched closely for signs of further rotations—and to determine which tokens might come under pressure next.