Santiment: “There is a Massive Liquidation in This Altcoin, Nobody Wants to Hold This Altcoin!”

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Entering a downward trend after the halving in the first days of August Litecoin (LTC) It has made a dramatic recovery from its lows in August after the halving.

At this point, it started to decline after its price of $115 in July. LTCIt was at $93 during the halving. It dropped to $56 in August.

While LTC is up 30% year-to-date from its $56 high, retail investors are looking to buy more Litecoin. altcoinHe sells because he is concerned about his performance compared to others.

Market analysts are largely bullish and predict significant growth potential for Litecoin.

Although market analysts have bullish expectations, retail investors do not agree with the analysts, according to the data shared by Santiment.

According to the data shared by Santiment, there has been a major liquidation in Litecoin wallets in the last 10 years.

Accordingly, approximately 199 thousand wallets that held LTC about 10 days ago no longer hold any coins, these wallets converted their LTC into cash.

“Approximately 199 thousand wallets that held LTC 10 days ago no longer hold any coins.

This was the biggest drop in wallets since October 2022. At this point, LTC’s market cap has fallen -55% against Bitcoin in 5 months.

However, FUD and the decline of small wallets may reverse this situation. “

While this decline in wallets holding LTC signaled a lack of confidence among small investors, analysts argued that this lack of confidence was due to the increasing interest in new altcoins, especially new mem tokens.

Litecoin continues to trade at $73 at the time of writing.

*This is not investment advice.

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