Litecoin (LTC) Whales Are Back in Action
Litecoin's on-chain and whale activity just hit a 4-month high, and it's making waves in the crypto world.
What's happening?
The on-chain analytics platform Santiment reports a significant surge in Litecoin's on-chain activity. This spike is coinciding with a price recovery, which has piqued the interest of investors.
Key highlights:
319,000 daily addresses are active on the network, a substantial increase.
Weekly whale transactions (over $100,000) hit a 4-month high of 7,418.
The Good News:
The increased activity is a positive sign for Litecoin's network. However, it doesn't necessarily mean a bull run for LTC. The price hasn't been responding well, possibly due to some long-dormant holders deciding to sell their coins.
What's next?
The selling pressure could outweigh demand, leading to a further decline in price. A return to $100 for LTC might still be a distant goal.
Current Status:
Litecoin's price dipped from $69 to $67 but has started a small recovery. As of now, LTC is trading at $67.8, with a 2.14% decrease in the last day.
Keep an eye on Litecoin as it navigates these market movements
