{"id":543341,"date":"2023-07-19T13:00:36","date_gmt":"2023-07-19T13:00:36","guid":{"rendered":"https:\/\/ktsl888.com\/?p=543341"},"modified":"2024-06-11T07:45:42","modified_gmt":"2024-06-11T07:45:42","slug":"litecoin-whales-purchase-59-million-worth-of-ltc-as-halving-event-approaches","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/litecoin\/litecoin-whales-purchase-59-million-worth-of-ltc-as-halving-event-approaches\/","title":{"rendered":"Litecoin Whales Purchase $59 Million Worth of LTC As Halving Event Approaches"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In the latest development today, Litecoin whales appear to be accumulating huge amounts of LTC, which could be quite positive for the network, especially as its halving event approaches.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In a tweet shared yesterday, July 18, by a crypto analyst with the Twitter handle @ali_charts, he<a href=\"https:\/\/twitter.com\/ali_charts\/status\/69226752?s=20\" target=\"_blank\" rel=\"noopener nofollow\"> confirmed<\/a> this trend using data from on-chain analytics firm Santiment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to @ali_charts, Litecoin whales holding 100,000-1,000,000 LTC\u00a0 have acquired over 590,000 LTC, worth $59 million, in the last two days.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Litecoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Litecoin<\/a> whales have bought over 590,000 <a href=\"https:\/\/twitter.com\/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$LTC<\/a> in the last 48 hours, worth around $59 million! <a href=\"https:\/\/t.co\/RtHpuzSkFt\" rel=\"nofollow\">pic.twitter.com\/RtHpuzSkFt<\/a><\/p>\n<p>&mdash; Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/69226752?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 18, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span style=\"font-weight: 400\">LTC Price Shows No Reaction To Whale Movement<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As earlier stated, these recent whale transactions spell a positive undertone for the Litecoin network, as it indicates growing confidence in the LTC asset. However, it is worth noting that LTC\u2019s market price has shown minimal reaction to this massive buying spree.<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/litecoin\/litecoin-whales-deposit-big-to-exchanges-bearish-sign\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Litecoin Whales Deposit Big To Exchanges, Bearish Sign?<\/a><\/p>\n<p><span style=\"font-weight: 400\">For context, LTC is up by only 1.44% in the last day, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/litecoin\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap<\/a>. Meanwhile, the token is down by 4.37% on the weekly chart and is marked as one of the top weekly losers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">LTC\u2019s price movement has been quite bearish since the start of July. The \u201cDigital Silver\u201d &#8211; as it is called &#8211; ended last month on a high note, gaining over 26% on June 30 to trade above $100 for the first time since April. This positive price movement was followed by some little extra gains before LTC\u2019s value started falling, declining by over 17% between July 3 and now.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, LTC is exchanging hands at $92.98, with a 0.27% gain in the last hour.\u00a0 Meanwhile, the token\u2019s trading volume is down 17.08% and is now valued at $482 million. With a market cap of $6.82 billion, LTC ranks as the 12th biggest cryptocurrency in the market.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large\" src=\"https:\/\/www.tradingview.com\/x\/mPH0ivWU\/\" alt=\"Litecoin\" width=\"1480\" height=\"913\"><\/p>\n<pre style=\"text-align: center\">LTC Trading At $93.08 On The 4-Hour Chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/\" target=\"_blank\" rel=\"noopener nofollow\">LTCUSD Chart On Tradingview.com<\/a><\/pre>\n<h2><span style=\"font-weight: 400\">More Positives For Litecoin As Investors Anticipate Halving Event<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Asides from the recent whale activity, the Litecoin network has also recorded other positive news that indicates a growing level of adoption.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On July 15, the network reached <a href=\"https:\/\/twitter.com\/litecoin\/status\/05597697?s=20\" target=\"_blank\" rel=\"noopener nofollow\">a historic milestone<\/a>, having processed over 170 million transactions since its inception, with over 10 million transactions added in the last 7 weeks.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, on July 18, the blockchain <a href=\"https:\/\/twitter.com\/litecoin\/status\/69324800?s=20\" target=\"_blank\" rel=\"noopener nofollow\">announced<\/a> that LTC ranked as the leading crypto for payment on the BitPay platform. According to a chart shared by BitPay, LTC accounted for 34.9% of all crypto payments on its platform in June.<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/ltc\/litecoin-becomes-10th-largest-cryptocurrency\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Litecoin Becomes 10th-Largest Cryptocurrency, But Is There Still Room To Run?<\/a><\/p>\n<p><span style=\"font-weight: 400\">That said, Litecoin\u2019s recent growth in engagement is likely driven by its upcoming halving event, which is scheduled for August 2, 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Litecoin\u2019s halving represents a programmed blockchain event in which mining rewards are reduced by half. It serves as a deflationary tool that helps maintain the scarcity of LTC in circulation, thereby increasing demand, which could potentially drive up the token\u2019s price.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The halving event occurs every four years, with the first two being in 2015 and 2019. Currently, LTC mining rewards stand at 12.5 LTC and will reduce to 6.25 LTC post-halving.\u00a0<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured Image From CMC Markets, Chart From Tradingview.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the latest development today, Litecoin whales appear to be accumulating huge amounts of LTC, which could be quite positive for the network, especially as its halving event approaches. In a tweet shared yesterday, July 18, by a crypto analyst with the Twitter handle @ali_charts, he confirmed this trend using data from on-chain analytics firm Santiment.\u00a0 According to @ali_charts, Litecoin whales holding 100,000-1,000,000 LTC\u00a0 have acquired over 590,000 LTC, worth $59 million, in the last two days.\u00a0 #Litecoin whales have bought over 590,000 $LTC in the last 48 hours, worth around $59 million! pic.twitter.com\/RtHpuzSkFt &mdash; Ali (@ali_charts) July 18, 2023 LTC Price Shows No Reaction To Whale Movement As earlier stated, these recent whale transactions spell a positive undertone for the Litecoin network, as it indicates growing confidence in the LTC asset. However, it is worth noting that LTC\u2019s market price has shown minimal reaction to this massive buying spree. Related Reading: Litecoin Whales Deposit Big To Exchanges, Bearish Sign? For context, LTC is up by only 1.44% in the last day, according to data from CoinMarketCap. Meanwhile, the token is down by 4.37% on the weekly chart and is marked as one of the top weekly losers.\u00a0 LTC\u2019s price movement has been quite bearish since the start of July. The \u201cDigital Silver\u201d &#8211; as it is called &#8211; ended last month on a high note, gaining over 26% on June 30 to trade above $100 for the first time since April. This positive price movement was followed by some little extra gains before LTC\u2019s value started falling, declining by over 17% between July 3 and now. At the time of writing, LTC is exchanging hands at $92.98, with a 0.27% gain in the last hour.\u00a0 Meanwhile, the token\u2019s trading volume is down 17.08% and is now valued at $482 million. With a market cap of $6.82 billion, LTC ranks as the 12th biggest cryptocurrency in the market. LTC Trading At $93.08 On The 4-Hour Chart | Source: LTCUSD Chart On Tradingview.com More Positives For Litecoin As Investors Anticipate Halving Event Asides from the recent whale activity, the Litecoin network has also recorded other positive news that indicates a growing level of adoption. On July 15, the network reached a historic milestone, having processed over 170 million transactions since its inception, with over 10 million transactions added in the last 7 weeks. Furthermore, on July 18, the blockchain announced that LTC ranked as the leading crypto for payment on the BitPay platform. According to a chart shared by BitPay, LTC accounted for 34.9% of all crypto payments on its platform in June. Related Reading: Litecoin Becomes 10th-Largest Cryptocurrency, But Is There Still Room To Run? That said, Litecoin\u2019s recent growth in engagement is likely driven by its upcoming halving event, which is scheduled for August 2, 2023.\u00a0 Litecoin\u2019s halving represents a programmed blockchain event in which mining rewards are reduced by half. It serves as a deflationary tool that helps maintain the scarcity of LTC in circulation, thereby increasing demand, which could potentially drive up the token\u2019s price.\u00a0 The halving event occurs every four years, with the first two being in 2015 and 2019. Currently, LTC mining rewards stand at 12.5 LTC and will reduce to 6.25 LTC post-halving.\u00a0 Featured Image From CMC Markets, Chart From Tradingview.<\/p>\n","protected":false},"author":581,"featured_media":543348,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16897],"tags":[10,41611,2828,88654],"class_list":["post-543341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-litecoin","tag-litecoin-halving","tag-ltc","tag-ltc-whales"],"acf":[],"yoast_head":"\n<title>Litecoin Whales Purchase $59 Million Worth of LTC As Halving Event Approaches<\/title>\n<meta name=\"description\" content=\"Litecoin whales are accumulating huge amounts of LTC, which could be quite positive, especially as network&#039;s halving event approaches.\" \/>\n<meta name=\"robots\" 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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