Albeit short-lived, Litecoin (LTC) reclaimed the $100 level in February. After retracing below $70 on March 10, how much impact can the rising whale activity have on LTC in the coming weeks?
Whales are taking advantage of the recent Litecoin correction to buy the dip.
Litecoin Whale Activity Has Intensified
Litecoin broke above $100 on Feb. 15. It was the first time LTC surged above $100 since slipping below the milestone in the aftermath of the TerraUST crash in May 2022. Critical on-chain metrics reveal that the recent 30% retracement has not deterred crypto whales.
According to, IntoTheBlock, a blockchain data analytics firm, the average size of LTC transactions has increased by over 600% in March 2023.
The chart below illustrates that the average LTC transaction size has increased from $13,355 on March 2 to $81,022 by March 23. This represents a sixfold increase in large transactions.
