Specialists of the Sentiment company, engaged in blockchain analytics, found out that Litecoin (LTC) is experiencing a strong wave of savings on the part of whales, whose wallets have from 1,000 to 100,000 LTC.
A new report reports that since the beginning of July, Litecoin whales have increased their stocks by about 270,000 LTC, which is about $ 30,000,000.
Crypto Insights also notes that activity in the Litecoin network is growing, despite the bearish price movement.
Despite the price reduction by 13.8%, the number of unique addresses interacting with LTC has increased by 47.5% over the past 10 days. Possible bullish divergence?
B Santiment indicates that the market value to the realized value of Litecoin, which aims to determine the bottom and top of the market, is at the same level when LTC reached the bottom in 2019 and 2020.
It's too early to tell, but it's important to keep an eye on Litecoin daily addresses this week. If the growth proves to be sustainable, it will be a rare example of the strength of the network of the largest cryptocurrency.
As for bitcoin, the company noted that the world's leading cryptocurrency by market capitalization is close to the record low level of BTC on exchanges, which indicates an increasingly limited supply.
Bitcoin is approaching an 18-month low of supply on the exchanges, which was reached on January 2, 2021. As BTC continues to withdraw from the exchanges during the price suppression, this is a promising sign that the markets have reduced the risk of a sell-off.
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