- Crypto whales continue to purchase large amounts of Litecoin (LTC) despite recent price drops.
- The altcoin that has caught the attention of whales this time is Litecoin, according to data from Santiment.
- An anonymous crypto analyst pointed out that despite the price drop, whales have been buying large amounts of LTC.
Despite a recent dip in prices, crypto whales are showing increased interest in Litecoin (LTC), purchasing large amounts of the altcoin. This counter-trend behaviour suggests a potential long-term bullish trend among major stakeholders.
Whales Continue to Buy Litecoin
According to data from Santiment, an anonymous crypto analyst has highlighted that crypto whales, or large-scale investors, have been buying large amounts of Litecoin (LTC) despite the recent drop in prices. This was particularly evident between April 28 and May 4, when 100,000 LTC purchases were made.
Signs of a Potential Long-Term Bullish Trend
The analyst suggested that this appetite for Litecoin, despite the price drop, is a positive signal for the medium and long term. “Even though the price of Litecoin has dropped, Santiment data shows that whales bought an additional 100,000 LTC between April 28 and May 4. This counter-trend behaviour brings to mind a potential long-term bullish trend among large shareholders,” the analyst said.
Litecoin’s Performance
According to CoinGecko data, LTC has shown a 1% increase in the last 24 hours and is currently trading at $81 at the time of writing. This performance, coupled with the continued interest from crypto whales, could suggest a positive future for the altcoin.
Conclusion
Despite recent price drops, Litecoin (LTC) continues to attract the attention of crypto whales, with large-scale purchases being made. This counter-trend behaviour, coupled with a recent increase in Litecoin’s performance, suggests a potential long-term bullish trend for the altcoin. As always, investors should keep a close eye on market trends and make informed decisions.
