Litecoin (LTC) Whales Transact at Highest Level Since Early 2021, Says Crypto Analytics Firm Santiment

Blockchain analytics firm Santiment says Litecoin’s biggest holders have started moving LTC at levels not seen in nearly a year.

LTC Whales Transact at Highest Level Since Early 2021, Says Crypto Analytics Firm Santiment

Santiment says that on April 14th, LTC transactions worth more than $100,000 were at their highest point since May of 2021, when volatility was exploding in the crypto markets.

“Litecoin’s top key stakeholders have been quite busy over the past week with massive transactions occurring near its price bottom at the beginning of the week. The 5,508 LTC transactions valued at $100k+ was the highest total in 11 months.”

Source: Santiment/Twitter

Litecoin is currently priced at $111 and is down over 72% from its all-time high of $410

Litecoin (LTC) Whales Transact at Highest Level Since Early 2021, Says Crypto Analytics Firm Santiment

Looking at Bitcoin (BTC), the analytics firm says that while social media is lit up with bullish sentiment, on-chain data shows that market participants are not yet betting that the bottom is in.

“When we sum up everything, it looks like it represents the following crowd sentiment: whatever happens at the bottom is not convincing. People are not committing their money to enter anything related to bullish cases, surprisingly. There are bullish talks, but we don’t see actions onchain.

We do believe it’s a good sign. We trust onchain data. But the total amount of still positive news is a bit concerning. Too high expectations.

It could be that we need one more dip. But for the short-term metrics we’ve seen the last – it’s a good chance we should go a bit higher.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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