Litecoin Surges Over 19% in 24 Hours Amid Increased Whale Activity
Litecoin has surged over 19% in the past day, surpassing the $120 mark. This rally stands out within a recovering cryptocurrency market.
Key Points
- Only XRP and Hedera matched Litecoin's returns in the same timeframe.
- Weekly profits for LTC are at 16%, lower than many other cryptocurrencies.
- On-chain analytics firm Santiment reports increased buying activity among Litecoin sharks and whales.
- Sharks and whales are defined as holders of 10,000 LTC or more, equating to around $120,000.
- These large investors have accumulated a total of 250,000 LTC (approximately $30 million) in the past week.
- A continuing trend in supply accumulation may indicate further price increases, while a decline could signal bearish conditions.
