of bitcoin Litecoin, which went above about $ 350 in the bull cycle, which made it reach $ 69,000, again experienced a rise.
Positive divergence from the market despite a general cryptocurrency crash caused by FTX’s bankruptcy litecoinhas increased by about 35% in the last week.
Described as digital silver LTCToday, it went up to the level of 81 dollars.
Cryptocurrency analytics platform that evaluates Liitecoin’s price movements centiment1 to 100,000 in hand LTC He said that this number of addresses holding has accumulated $43 million in LTC in the last two weeks.
Posting on Twitter, Santiment said that a strong accumulation trend continues among sharks that led to the massive price increase, and they are holding the highest supply in seven months:
“Litecoin’s price increase may have shocked some of you. But the massive accumulation of addresses has been key to tracking.
In the past 2 weeks, addresses holding between 1 and 100,000 LTC have accumulated $43.4 million on the way to the first price increase over $80 since May.”
⚡️ #Litecoin‘s price surge may have shocked some of you, but the large address accumulation has been the key to watch. In the past 2 weeks, addresses holding 1k to 100k $LTC accumulated $43.4M in coins en route to the first price jump above $80 since May. https://t.co/qkff6FCA1g pic.twitter.com/DM50SjOcAY
— Santiment (@santimentfeed) November 23, 2022
LTC Has Always Made This Rise Historically!
of Litecoin Analysts commenting on the rise in LTC attributed the rise to the halving event.
Analysts looking at the historical movements of Litecoin in this context, LTC’s halving He said he had experienced such rallies prior to the incident.
Analysts, who show this as an example, stated that before the halving in August 2015 and 2019, LTC experienced a rally similar to what it is now.
As a reminder, LTC’s next halving will take place in August 2023.
LTC continues to trade at $78 at the time of writing.
*Not investment advice.
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