Cryptocurrency
Litecoin Whales Active on Blockchain
Saturday. July 13 at 11:00 AM
1 min. readRecent on-chain data reveals increased activity among Litecoin whales, with the network processing numerous significant transactions. Market intelligence platform IntoTheBlock reports a surge in whale activity on the Litecoin network, particularly in 'Large Transactions Volume,' tracking transfers of $100,000 or more. This metric indicates the involvement of large investors in asset trading, with high values suggesting heightened whale activity. The graph illustrates a spike in Litecoin's Large Transactions Volume, averaging $2.85 billion daily, surpassing even larger cryptocurrencies like Dogecoin. Such substantial whale transactions, exceeding half of Litecoin's market cap, may lead to increased price volatility based on the nature of their activity. Additionally, Litecoin has emerged as the top coin by transaction count on BitPay this year, experiencing a 14% surge to reach $68 amidst a stagnant market for other major assets.