Cryptocurrency analytics firm Santiment shared on social media that whales have accumulated Litecoin, called "Silver Bitcoin". Data transferred by Santiment; It shows that whale addresses holding between 10,000 and 1 million LTC assets have accumulated LTC for 15 weeks, the longest since 2017, thus adding 5% of the Litecoin supply to their holdings.

"#Litecoin is showing some signs of life, up about +5% against $BTC in the past 2 days. Whale addresses holding 10k to 1m $LTC are in a 15-week accumulation pattern that is their longest since 2017. They have added 5% of $LTC's supply in just 15 weeks."

litecoin santiment

These moves come at a time when the cryptocurrency saw historic lows on the LTCBTC pair, dropping to 0.003 BTC before climbing around 6% over the past few days. Litecoin's lows against the leading cryptocurrency suggest whales are hoarding the cryptocurrency as they await an upside move against BTC.

Litecoin qualifies as an important cryptocurrency, often used as a testnet for the Bitcoin network. Segregated Witness (SegWit) usage was well above BTC last year, and the leading cryptocurrency has surpassed it in the past few months. SegWit separates the digital signature, which makes up 65% of the space in a transaction, from the transaction data to allow for increased block size limits.

On top of that, Litecoin has been working since at least 2019 to implement the privacy-focused decentralized protocol MimbleWimble. Robbie Coleman, creative director of the Litecoin Foundation, recently stated that he is in “final code review” to introduce optional privacy for LTC.

Litecoin (LTC)

In addition, as previously revealed, the US National Banks Association, the fifth largest commercial bank in the US, has launched a crypto custody service for investment managers that includes an LTC solution.

Santiment Network Token bugünkü fiyatı $0,274309 USD, 24 saatlik işlem hacmi $16.716,47 USD. Anlık CoinMarketCap sıralaması #861, piyasa değeri $17.361.980 USD.