Litecoin (LTC) Whales Boost Exchange Inflows amid Price Decline

Source 1 week ago 21
MyIPFS Script: Gateway to Your IPFS Network

Coinspeaker
Litecoin (LTC) Whales Boost Exchange Inflows amid Price Decline

In the past week, there has been a notable increase in the movement of Litecoin (LTC) coins held by large investors to cryptocurrency exchanges. This uptick coincides with LTC’s declining value.

The cryptocurrency is currently trading at a 15% loss over the past seven days. Large holders seem to be taking action to mitigate potential further losses amid these market conditions.

Rising Selling Pressure from LTC Whales

On-chain data indicates a sharp rise of over 464% in large holders’ netflow to exchanges within the past seven days. This surge suggests that significant amounts of LTC are being moved from large holders’ wallets to exchanges, indicating potential sell-offs and adding to downward pressure on prices.

Litecoin (LTC) Whales Boost Exchange Inflows amid Price Decline

Photo: IntoTheBlock

A further analysis of LTC’s financial metrics discloses why its major holders are divesting. Currently, 5.93 mil...


BitNews.press shares this Content with Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) License.

Read Entire Article

Litecoin (LTC) Whales Boost Exchange Inflows amid Price Decline