Santiment: “Whales Turned to This Altcoin Closely Correlated with Bitcoin!”

Rising to over $110 in 2023 due to halving effect In Litecoin (LTC) There was a huge decline after the halving.

When this downward trend combined with the trend in the general market, LTC dropped to $ 55.

Afterwards, LTC continued its horizontal movements and approached 73 dollars with the upward movements in recent days. However, Litecoin, which could not continue this, gave back some of its gains.

With this withdrawal, Litecoin reached the level of $ 67.7, LTC has experienced increased activity on its network throughout this week.

At this point, analytics platform Santiment stated that Litecoin address and whale transactions have reached new peaks.

Stating that the number of LTC addresses increased throughout this week centimeterHe stated that whale activities have reached levels not seen since June.

“Litecoin saw rapidly increasing on-chain movement towards the end of this week. Litecoin address and whale activity has reached levels last seen in June.

Additionally, the number of sedentary LTCs suddenly experienced a large increase; This is usually an indication that more coins are starting to circulate. “

⚡️ #Litecoin saw rapidly rising #onchain movement to end the work week, with address activity and whales both hitting levels last seen in June. Additionally, dormant $LTC suddenly had a big spike, usually an indicator of more coins beginning to circulate. https://t.co/ILZua1tEzV pic.twitter.com/MT1MZ2K15i

— Santiment (@santimentfeed) October 27, 2023

Evaluating this activity in LTC, analysts say: LitecoinAlthough there is currently a downward correction in progress, LTCHe predicted that the increase in on-chain transactions in may turn the downward trend into an upward trend in the near future.

Also Litecoin Bitcoin Analysts point out that there is a close correlation with BTCHe stated that the expected significant price increase in the coming period may also move the price of LTC upwards.

*This is not investment advice.