Litecoin Whales Continue to Accumulate โ Data Shows Significant Activity
As the reaccumulation phase of the current cycle persists, Litecoin whales are actively participating in accumulating more LTC, with data revealing substantial activity in the past month.
โ Data from crypto market intelligence platform IntoTheBlock shows:
โ LTCโs largest investors collected over 2.75 million litecoins in the last 30 days
โ Addresses linked to Litecoin whales recorded their largest daily inflow since February
โ Whales moved 900,000 LTC, approximately $74.7 million, into their wallets on May 10
โ Whales have deposited a total of 2,751,633 LTC, exceeding $228 million at current prices
Despite the significant accumulation, the price of LTC has remained relatively stable, fluctuating between $80 and $86 in the past month, with minor changes.
Remarkable Activity in Litecoin Community
Litecoin has witnessed notable developments, particularly since the largest American crypto exchange, Coinbase, introduced cash-settled futures contracts for the network, along with similar products for Dogecoin and Bitcoin Cash.
โ Coinbase launched the futures trading products in early March
โ The products went live on April 1 after self-certification for compliance with regulatory guidelines
โ Since the Litecoin halving ten months ago, the network has experienced increased transaction count and active addresses
โ Number of long-term LTC holders doubled post-halving, surpassing five million
โ In December, active addresses on Litecoin reached a new all-time high, exceeding 1.4 million
โ The network has seen growth with the launch of the LTC-20 token standard on the Ordinals Protocol
Hot Take: Litecoin Continues to Attract Whale Activity Amidst Stable Prices ๐
Litecoin whales remain actively involved in accumulating LTC, as data indicates significant activity in the past 30 days. Despite the accumulation spree, LTCโs price has remained relatively stable, hovering within a specific range. The Litecoin community has also seen remarkable developments, with increased transaction counts, active addresses, and the launch of the LTC-20 token standard. These developments showcase growing confidence in Litecoinโs ecosystem and its future potential.
Sources:
โ [CoinMarketCap](https://coinmarketcap.com/currencies/litecoin/)
โ [IntoTheBlock Twitter](https://x.com/intotheblock/status/1792471499527397509)
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