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In November, the price of Litecoin (LTC) exceeded $285, then the cryptocurrency began to fall. As a result of the December and January sales, the altcoin fell to $127.
The rebound occurred in the middle of the current week. On January 12, LTC jumped over 5% to $140.1. Cryptocurrency wins back against the backdrop of the return of capital to risky assets.
On the night of Friday, January 14, LTC is trading at $137, the local bottom was reached around $127.
Analysts have been seeing increased network activity since December. The average daily number of transactions on the LTC blockchain jumped to 110,741 this week (according to BitinfoCharts).
The large-scale pullback that Litecoin has shown over the past few months has not scared the whales. On the contrary, it is this category of investors that has been buying cryptocurrencies for 15 weeks in a row, according to a report from the Santiment team.
The researchers found that since the end of September, the reserves of whale wallets holding from 10,000 to 1 million LTC have grown by almost 10%. The largest addresses show the longest accumulation over the past four years.
Most likely, due to the whales, network activity is increasing. It is possible that this category of investors will try to bring Litecoin back to November values or even higher, and then they will dump the coin, as was already the case during previous phases of turbulence, observers say.
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