Litecoin Whale Activity Reaches Highest Level in Four Months

Over the weekend, Litecoin surged above $75 before falling to $72 earlier this week. This was the highest price point for the altcoin since mid-August 2023.

Daily trading volume on the network also decreased to $151 million according to CoinGecko.

The spike in value can be attributed to the increased activity of LTC’s major holders in early November, with the number of transactions over $100,000 reaching its highest level since July.

However, a decline in activity from these large holders has caused a correction in LTC’s price, leading experts to predict a potential rally if whale activity picks up again.

Additionally, miners’ accumulation of LTC has increased in November, with reserve levels reaching their highest point since August 3 – 2.55 million LTC.

This suggests a potential change in trend as miners now hold the same amount of cryptocurrency as they did before the August halving.