Litecoin (LTC) Whales Boost Exchange Inflows amid Price Decline

This post was originally published on Coinspeaker

On-chain data indicates a sharp rise of over 464% in large holders’ netflow to exchanges within the past seven days.

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.

Photo: IntoTheBlock

A further analysis of LTC’s financial metrics discloses why its major holders are divesting. Currently, 5.93 million addresses, comprising 72% of all LTC holders, find themselves “out of the money”. An address falls into this category when the current market value of its holdings is below the average purchase price of those tokens.

Technical indicators, including the Moving Average Convergence Divergence

Read the rest of this post, which was originally published on Coinspeaker.

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