news 
Litecoin Whales Accumulate 930K LTC Amid ETF Speculation
Recent activity in the Litecoin market has caught attention as whales accumulate a staggering 930,000 LTC over the past two weeks. This significant increase in buying pressure is being attributed to speculation surrounding Canary Capital’s ETF listing on the Depository Trust & Clearing Corporation (DTCC) platform.
The influx of large-scale purchases by Litecoin whales has sparked excitement among traders, with many interpreting this accumulation as a positive indicator during times of market instability. As investors increasingly focus on higher demand and buying activity, it appears that these whales are confident in Litecoin’s future price potential.
Notably, the price of Litecoin has taken a 5% hit to $128.13 at Saturday’s market close, despite the significant whale accumulation. This unexpected drop has led some traders to express caution regarding short-term movements. However, many remain optimistic about the long-term prospects of Litecoin, pointing to the whales’ substantial buying activity.
In a recent tweet, Carl Moon, a well-known crypto trader, emphasized that Litecoin could potentially reach $143 in the near future, citing bullish flag formation on lower time frames as evidence for his prediction.
While it remains unclear how external market trends and investor sentiment will impact Litecoin’s short-term price action, it is undeniable that the whales’ accumulation of 930,000 LTC has fueled a significant increase in optimism.
Source: cryptonewsland.com
