As Litecoin Whales Accumulate Coins, Is The Bitcoin Fork All Set Up For Gains?
Litecoin (CRYPTO: LTC) traded 1.2% lower at $145.97 over 24 hours leading up to early Tuesday morning.
What’s Moving? The Charlie Lee-created cryptocurrency has shot up 13.3% over a seven-day trailing period.
Litecoin, a Bitcoin (CRYPTO: BTC) fork, rose 0.15% against the apex coin and was up 1.2% against Ethereum (CRYPTO: ETH).
Over the last 30 days, LTC has fallen 5.6%, while it has declined 21.9% over a 90-day period.
Since 2022 began, LTC has shrunk 3.1%. It touched an all-time high of $412.96 in May last year. At press time, it traded 64.7% below that level.
See Also: How To Buy Litecoin (LTC)
Why Is It Moving? LTC was down alongside other major coins at press time as the global cryptocurrency market cap declined 1.6% to $2 trillion.
LTC was among the ten-most mentioned coins on Twitter, according to Cointrendz data. At press time, it attracted 1,243 tweets.
The three most discussed coins at press time were Bitcoin, Cardano, and Ethereum. They attracted 10,783, 4,239, and 3,937 tweets, respectively.
LTC saw high buzz on social media, trending on Twitter and Stocktwitz, as it held its act together amid a slumping wider cryptocurrency market.
Litecoin whales have been piling their reserves of the cryptocurrency higher. This is the longest such accumulation streak since 2017, as per a tweet from the project.
#Litecoin Whales in Longest Accumulation Streak Since 2017: #Cryptos Intelligence Firm Santiment https://t.co/XDYrd253zt $LTC
— Litecoin (@litecoin) January 17, 2022
On Monday, Litecoin Foundation tweeted “It’s happening” in relation to OmniLite, a layered protocol built on top of Litecoin’s blockchain.
It's happening!https://t.co/1rsdtRWEdf pic.twitter.com/xCwRZUYr2y
— Litecoin Foundation (@LTCFoundation) January 17, 2022
The protocol will allow for the creation of custom currencies, blockchain-based crowdfunding and the issuance of non fungible tokens.
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