​Analysts named the reasons for Litecoin's growth by 105% in three months

📊 Experts from the analytical company Santiment named the reason why the Litecoin (LTC) rate has increased by 105% since November 2022.

On November 9, the asset was at a local minimum of $47.6, and on January 29, 2023, it reached $97.77 per 1 LTC, which is the highest level over the past eight months.

What are the reasons for the growth? According to analysts, large LTC holders continued to accumulate coins in their wallets. Over the past seven months, addresses with balances between 100 and 10,000 LTC have added a total of 1.15 million coins, representing 0.5% of Litecoin's total supply. The growth in asset volumes in the wallets of large investors amounted to 4.92%.

The second likely reason for the growth is the upcoming Litecoin halving. A decrease in the reward for each mined block is expected in August 2023 at the height of block 2,520,000. According to U.Today journalists, the expectation of halving begins to influence the current price and investor sentiment regarding the asset.