Whale Investors Accumulate Litecoin Amid Price Drop:

Litecoin (LTC) has entered a significant downtrend in recent weeks, reaching its lowest level since February.

Despite the decline, major investors are increasing their Litecoin purchases.

As of mid-May, this 'whale' interest remains strong despite poor price performance.

On-Chain Analysis of Addresses Holding LTC

Latest on-chain data shows that large investors continue to accumulate LTC. Since early June, the number of whale addresses holding between 10,000 and 1,000,000 tokens has increased by 2%. There are currently 613 addresses falling into this category, the highest number since March. These major players now control 56% of Litecoin's circulating supply. Their savings despite falling prices shows their belief that prices will increase in the future.

In contrast, a rebound in Litecoin price may require a change in market sentiment. Currently, the sentiment metric is at -0.021, which indicates a bearish trend and generally predicts that the price will continue to fall. Litecoin is currently trading at $71.58, which represents a 17% decline in the last month. The Moving Average Convergence Divergence (MACD) indicator also signals a potential decline and also indicates possible buy and sell points.

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