Litecoin

ORDI

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
Top market whales are massively accumulating Litecoin (LTC) in what is a positive undertone for the protocol in the short term. <a href="https://twitter.com/ali_charts/status/1681437953569226752?s=20" rel="noopener noreferrer nofollow">According</a> to a Santiment insight, Litecoin whales have bought over 590,000 LTC in the last 48 hours, worth around $59 million. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/Litecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Litecoin</a> whales have bought over 590,000 <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LTC</a> in the last 48 hours, worth around $59 million! <a href="https://t.co/RtHpuzSkFt" rel="noopener noreferrer nofollow">pic.twitter.com/RtHpuzSkFt</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1681437953569226752?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 18, 2023</a> 
</blockquote> 
The accumulation is now taking the form of a pattern as whales appear to be pricing in the forthcoming halving event of the Litecoin protocol. The halving is <a href="https://u.today/litecoin-ltc-to-undergo-halving-in-only-20-days-details" rel="noopener noreferrer nofollow">scheduled</a> for sometime in August and is tagged as one of the most significant events in the protocol. 
<a href="https://u.today/13-of-litecoin-ltc-supply-unmoved-in-years-in-positive-twist-for-network" rel="noopener noreferrer nofollow">card</a> 
Halving can bring a lot of positivity to Litecoin as block rewards for miners will be slashed by half. This means that the rate of production of the LTC coin will be <a href="https://u.today/litecoin-ltc-next-price-direction-hinted-at-by-crypto-analyst-details" rel="noopener noreferrer nofollow">reduced</a>, a feature that is technically deflationary which, when merged with the growing demand, can have a unique upside for the price. 
Litecoin, like most of the altcoins, is charting a bullish run riding on the confluence of positive data surrounding it. At the time of writing, the <a href="https://coinmarketcap.com/currencies/litecoin/" rel="noopener noreferrer nofollow">coin is up by 2.19%</a> to $93.39. At the current level, it is pushing to pare off the losses accrued over the past week. 
<h2 id="confluence-of-positivity">Confluence of positivity</h2> 
Litecoin is currently at a point in its existence where there is indeed a confluence of positivity that is contributing to shaping investor sentiment across the board. 
<a href="https://u.today/litecoin-ltc-smashes-historic-milestone-ahead-of-halving-event" rel="noopener noreferrer nofollow">card</a> 
Besides the halving event, Litecoin has been gaining ground in its role in payments, with new records and milestones to show for it. With over 170 million transactions <a href="https://u.today/litecoin-ltc-smashes-historic-milestone-ahead-of-halving-event" rel="noopener noreferrer nofollow">processed</a> on the network to date, Litecoin is one of the few protocols that has maintained 100% uptime since its inception. 
The emergence of Ordinals Inscriptions on Litecoin is also a positive push showing just how flexible and innovative the protocol is.

Massive Litecoin (LTC) Buy-up by Whales Ongoing, Halving Sentiment at Play?

Table of Contents

U_Today

Other articles published on Jul 19, 2023

Metaverse Startup Raises $54 Million From Investors Including Ripple

Sui Network Experiences Surge in Transactions and Active Users, Unveiling Potential Concerns

US Politician Urges SEC Chair to Reconsider Crypto Regulations Following XRP Court Ruling

Major Ethereum Whale Awakens After 8 Years of Dormancy

Will BARC Stock Continue its Bullishness Ahead of Q2 2023?

Goldman Sachs Down 1.2% as Weak Earnings Report Shows Declining Profit

Join our free newsletter for daily crypto updates!