Litecoin (LTC) Whales Invest Heavily Amidst Bearish Market: Potential Price Rebound on the Horizon?

• Recent on-chain data suggests that Litecoin whales have been buying the asset despite its struggling price.
• These whales have reportedly accumulated 100,000 LTC recently, even as the cryptocurrency’s price has declined.
• The behavior of these influential entities could have a significant impact on the market.

Discover how Litecoin whales are influencing the market, accumulating 100,000 LTC recently despite the cryptocurrency’s declining price.

Litecoin Whales Accumulate Amid Price Decline

As highlighted by a Twitter user using data from on-chain analytics firm Santiment, Litecoin whales have been buying the cryptocurrency despite its falling price. The key indicator here is the “Supply Distribution,” which provides insight into the total amount of Litecoin held by different wallet groups in the market.

Understanding the Influence of Whales

Investors are divided into cohorts based on the number of coins they hold. The whale cohort, defined as addresses holding between 10,000 and 100,000 LTC, is of particular interest due to their significant holdings and potential influence on the market. The trend in the Supply Distribution of Litecoin whales over the past month shows an increase, suggesting that these entities believe the cryptocurrency to be a worthy long-term investment.

Whale Behavior and Market Impact

Interestingly, the whale buying activity has occurred at... Read the full article for FREE at COINOTAG!