Litecoin Whale Transactions Surge to 503 Amid Price Volatility

Litecoin has recently experienced a price drawdown, but on-chain data indicates a significant increase in whale activity.

Key Points

  • Whale Transaction Count for Litecoin has surged, reaching its highest level since December 10th. This metric tracks transactions over $100,000, typically involving large investors.
  • The spike in whale transactions has coincided with the recent price volatility of Litecoin.
  • Historically, spikes in whale activity have often preceded price reversals, as seen with previous transaction highs on December 3rd and 10th, which aligned with price peaks.
  • The impact of the current spike is uncertain—it could signal either a selloff or a price bottom.

LTC Price Movement

  • Recently, Litecoin reached a high of $84 before dropping to around $75 at the start of this week.
  • The price has shown some recovery, climbing back to $78.

Litecoin Whale Transaction Count

Litecoin Price Chart