Litecoin Price Experiences a 55% Fall in Five Months

In the last five months, the value of Litecoin has dropped by approximately 55%. While Bitcoin has been on an upward trend since October, LTC has remained stagnant.

In the past week, its value has only increased by 5%, reaching $74. In comparison, both Bitcoin and Ethereum have seen a significant increase in value of over 12% during the same time period.

As prices continue to decline, holders of LTC are selling off their assets. According to Santiment, over the last ten days, there has been a decrease of 2.13% in the number of wallets holding different amounts of LTC.

Most of the closed wallets contained a low amount of LTC, suggesting that small investors have lost hope in the potential of LTC for a significant breakthrough in the near future.

The majority of recent buyers of LTC have been large investors, also known as “whales”, who are holding onto the altcoin for long-term storage. Santiment reports that the decrease in small LTC addresses is accompanied by a high level of network activity.

On December 7, a new record of 1.27 million wallets were sending and receiving funds daily on the Litecoin network. Additionally, there has been a spike in weekly targeting