Litecoin (LTC) continues to face challenges at the $67 support level, drawing attention as large-scale investors (whales) increase their activity. This surge in whale movements, combined with rising trading activity, could signal significant changes for the cryptocurrency.
Litecoin Whale Accumulation Signals Market Shift
According to Santiment data, Litecoin whales have been actively accumulating the cryptocurrency. Whale movements often suggest that large investors consider the current price attractive for entry. The increase in whale activity may indicate that some investors believe Litecoin is nearing a potential market bottom.
Whale Holdings of Stablecoins Increase. Source: Santiment
The growing accumulation among whales adds interest to Litecoinâs current performance, particularly as the cryptocurrency holds its position around the $67 mark. This level is critical, and a break below it may lead to further selling pressure. However, for now, whale activity suggests confidence in the current price range.
Litecoin Active Addresses on the Rise
In addition to whale movements, the number of active Litecoin addresses has also increased. Santiment reports that active addresses have grown by 2% in the past 24 hours, indicating higher network usage. This increase suggests more market participants are engaging with Litecoin, possibly in anticipation of price movement.
Additionally, more active addresses typically reflect growing interest in a cryptocurrency, and this uptick could support Litecoinâs efforts to stabilize around its current price. Increased activity on the network is a sign that Litecoin continues to attract attention, even amid market uncertainties.
Litecoin Active Addresses and Price Trends. Source: IntoTheBlock 28% of Litecoin Holders in Profit
Moreover, despite the positive trends in whale accumulation and network growth, only 28% of Litecoin holders are currently in profit, as per IntoTheBlock. Notably, this indicates that many investors purchased at higher prices and are still waiting for a potential market recovery.
Litecoin Holdersâ Profit Distribution. Source: IntoTheBlock
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