Less than ten days before the halving event, #Litecoin whale transactions remain persistently high.
LTC is expected to start the alt season surge close to its halving on August 2.
As the halving event approaches, Litecoin's social influence grows.
The anticipated halving of Litecoin has fuelled speculation among LTC holders as the event approaches. According to the Nicehash halving countdown clock, the halving is slated on August 2.
$LTC holders are excited about the impending event and its potential to ignite a strong price rebound for the cryptocurrency. The social dominance metric may be used to assess this.
On-chain indicators for Litecoin indicate LTC holders' excitement.
On-chain measures for Litecoin have become optimistic, with growing social dominance and increased whale wallet activity indicating the altcoin's holders' excitement. With its approaching halving event, the cryptocurrency is set to lead the alt season surge.
According to statistics from crypto intelligence tracker Santiment, LTC's social influence increased over the weekend.
Previously, social dominance in Litecoin has correlated with price increases in LTC. This is common in LTC, with three incidents occurring on June 3 and 30, as well as July 6.
In the weeks leading up to the #LTC halving, whale transactions on the Litecoin network have been consistently high.
The forthcoming halving has generated speculation and anticipation in the Litecoin community, and LTC holders anticipate a short-term increase in the altcoin's price.
