Litecoin Mega Whales Accumulate Nearly $220,000,000 Worth of LTC in Just Five Weeks: Analytics Firm Santiment

Analytics firm Santiment says crypto whales have spent the most recent part of the bear market devouring peer-to-peer payment network Litecoin (LTC).

santimento Note Litecoin addresses with over 1 million LTC hold the highest level of available LTC supply since June 2017.

These so-called “mega whales” have amassed 2.95 million LTC worth $219.6 million over the past five weeks, according to analytics firms.

Source: Santiment/Twitter

Litecoin is trading at $76.99 at the time of writing. The 13th largest crypto asset by market capitalization is up 3.44% over the past 24 hours and over 44% over the past month. LTC is down more than 81% from its all-time high of $410.26 set in May 2021.

Pseudonymous crypto trader DonAlt says in a new YouTube video that Litecoin looks bullish and may be preparing its next foothold against Bitcoin (LTC/BTC).

“[LTC] There was a strong lateral upward movement [trading]another strong move upwards, and honestly two red weeks [the] Move up. At first glance, you can see that this is basically landscape orientation.

With the left side removed, this looks like typical bull market behavior. There is a large upward movement and a shallow pullback before expansion. [toward] rising again.

Don’t miss a beat – subscribe to get encrypted email alerts delivered straight to your inbox

Price action confirmation

Please follow us twitter, Facebook When telegram

Surf The Daily Hodl Mix

Check out the latest news headlines


Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Zastolskiy Victor

Leave a Reply

Your email address will not be published. Required fields are marked *