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Crypto Whales Load Up on Litecoin (LTC) in August Amid Market Fluctuations
The post Crypto Whales Load Up on Litecoin (LTC) in August Amid Market Fluctuations appeared on BitcoinEthereumNews.com. Despite the relatively turbulent market, crypto whales have continued to invest in certain altcoins this week. Analysts suggest this could be a sign of optimism for a significant market recovery soon. An interesting trend has emerged regarding the specific altcoins chosen by these whales. Discover the altcoins favored by crypto whales in August and what this could mean for the broader market. Significant Whale Activity in Litecoin (LTC) Leading the list is Litecoin (LTC), developed as a lighter version of Bitcoin (BTC). According to IntoTheBlock, LTC’s Large Holders Net Flow has seen a significant increase over the past week. The Large Holders Net Flow tracks the movements of addresses holding at least 1% of the total circulating supply. The recent uptick indicates that crypto whales have accumulated more LTC than they have distributed. Generally, when whales increase their holdings, it signals a bullish sentiment regarding future price increases. Currently, LTC is trading at $67.75, experiencing a 4.54% daily increase and a 10.22% gain over the past week. If the purchasing momentum continues, LTC could see further gains. Polygon (MATIC) Sees Increased Buying Interest It comes as a surprise that Polygon (MATIC), despite its relatively underwhelming performance compared to its peers, has attracted whale interest. On-chain data from Santiment confirms that whale addresses holding between 100,000 and 1 million MATIC, and even those holding between 10 million and 100 million MATIC, have increased their balances. This accumulation appears to be linked to the impending upgrade scheduled for September 4, where MATIC will transition to POL. The expected transition seems to be sparking increased interest in the token. Currently, despite a 5.15% decline this week, MATIC saw a 2.7% increase in the past 24 hours, aligning with market trends. Avalanche (AVAX) Gains Whale Attention Avalanche’s native token, AVAX, rounds out the list.…
The post Crypto Whales Load Up on Litecoin (LTC) in August Amid Market Fluctuations appeared on BitcoinEthereumNews.com.
Despite the relatively turbulent market, crypto whales have continued to invest in certain altcoins this week. Analysts suggest this could be a sign of optimism for a significant market recovery soon. An interesting trend has emerged regarding the specific altcoins chosen by these whales. Discover the altcoins favored by crypto whales in August and what this could mean for the broader market. Significant Whale Activity in Litecoin (LTC) Leading the list is Litecoin (LTC), developed as a lighter version of Bitcoin (BTC). According to IntoTheBlock, LTC’s Large Holders Net Flow has seen a significant increase over the past week. The Large Holders Net Flow tracks the movements of addresses holding at least 1% of the total circulating supply. The recent uptick indicates that crypto whales have accumulated more LTC than they have distributed. Generally, when whales increase their holdings, it signals a bullish sentiment regarding future price increases. Currently, LTC is trading at $67.75, experiencing a 4.54% daily increase and a 10.22% gain over the past week. If the purchasing momentum continues, LTC could see further gains. Polygon (MATIC) Sees Increased Buying Interest It comes as a surprise that Polygon (MATIC), despite its relatively underwhelming performance compared to its peers, has attracted whale interest. On-chain data from Santiment confirms that whale addresses holding between 100,000 and 1 million MATIC, and even those holding between 10 million and 100 million MATIC, have increased their balances. This accumulation appears to be linked to the impending upgrade scheduled for September 4, where MATIC will transition to POL. The expected transition seems to be sparking increased interest in the token. Currently, despite a 5.15% decline this week, MATIC saw a 2.7% increase in the past 24 hours, aligning with market trends. Avalanche (AVAX) Gains Whale Attention Avalanche’s native token, AVAX, rounds out the list.…
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