What to Know:
- Litecoin (LTC) has demonstrated strong on-chain performance, outperforming many altcoins.
- Whale accumulation is on the rise, with wallets holding over 100,000 LTC increasing significantly.
- Daily on-chain volume hit an all-time high, indicating strong investor interest and network usage.
Litecoin (LTC) has shown impressive on-chain activity, standing out amid recent market fluctuations. The cryptocurrency briefly surpassed the $100 mark, diverging from the performance of other altcoins like Ethereum, Solana, and XRP. This surge reflects growing confidence in LTC’s potential.
Litecoin’s decoupling from the broader altcoin market signals unique strength. Data indicates a notable increase in whale activity, with wallets holding over 100,000 LTC growing by over 6% in the last three months. This accumulation trend suggests large holders are bullish on Litecoin’s future prospects.
The surge in whale activity has driven daily on-chain volume to record levels. Litecoin reached an all-time high of $15.1 billion in daily transaction volume. This increased engagement suggests heightened interest from both large and retail investors.
Despite a recent slight correction, market sentiment remains positive, supported by strong on-chain metrics. The increased network usage and growing investor interest point to a potentially sustained rally for Litecoin. As the digital asset space evolves, LTC’s fundamentals position it as a noteworthy contender.
Source: Original article
