Blockchain analytics firm Santiment revealed a group of whales are making purchases of the cryptocurrency, Litecoin (LTC) in amounts of at least 1,000 to 100,000 LTC.
Since early July these whales have increased their LTC reserves by a gross estimate of 270,000 LTC or $ 30,000,000.
At the same time, even when the crypto market is bearish, activity in the Litecoin network on the other hand shows a good improvement:
“Although prices have dropped by more than 13%, the number of unique addresses associated with Litecoin has increased by more than 47% in 10 days. Is this bullish potential? ”
Santiment also explained, based on market value to realized value (MVRV) is at the same level when LTC declined in 2019 and 2020.
For information, MVRV is an apparatus for determining the bottom and top of the market.
Anyway, today the crypto market showed an encouraging recovery when Bitcoin (BTC) early this morning had touched the $ 39,801 price level before slipping to $ 38,368 at the time of the article.
Meanwhile, Litecoin recorded a jump of almost 9% in 24 hours with a current value of $ 137.08.
