Crypto analytics platform Santiment says that Litecoin (LTC) is flashing bullish after its August 2nd halving event.
In a new video strategy session, Santiment’s director of marketing Brian Quinlivan says that it appears the peer-to-peer payments network is forming a bullish divergence as sharks and whales continue to accumulate LTC as price dips.
“I like looking at holders that have anywhere between, let’s say 100 all the way to 100,000 Litecoin. And it actually looks like they’re still accumulating a bit. So this is decent to see. This was about 10 days before the halving, they were holding about 42.4%. They’ve added about a half percentage of the entire supply to their collective wallets.
In terms of the absolute amount of coins that they hold, these key sharks and whales, they are back up to holding 31.5 million. This is the highest amount that they’ve held all year long. We’ve got to go back to 2022 here, and they’re still above the line. They’re continuing to g
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