Litecoin’s rising tide: This latest boost in value could have LTC aiming higher

Litecoin’s rising tide: This latest boost in value could have LTC aiming higher

May 12, 2023

By Suzuki Shillsalot

– Realistic or not, here’s LTC market cap in BTC’s terms

LTC witnesses significant accumulation and a surge in active addresses, reflecting growing interest and confidence.

LTC’s value fluctuates with modest gains while facing resistance below the neutral line on the RSI.

Litecoin [LTC] emerged as a triumphant force amid the recent congestion that Bitcoin [BTC] has been grappling with. The positive developments in its crucial metrics have undoubtedly left an indelible mark on its accumulation recently. So, let’s delve into how these factors have influenced Litecoin’s value.

Litecoin accumulation heightens

Fresh insights from Santiment revealed a fascinating trend in Litecoin [LTC]. Recent data indicated a surge in accumulation by prominent investors and large-scale holders, colloquially known as sharks and whales. The chart from Santiment vividly portrayed this upswing, showcasing how addresses holding 0-1,000 LTCs now possessed over 7 million tokens.

Moreover, Litecoin achieved a remarkable milestone, as the number of individuals owning LTC has surpassed the 7 million mark, reaching an all-time high. This exceptional growth in holders reflected the growing popularity and confidence in the token.

These developments unfold against the backdrop of Bitcoin’s ongoing congestion challenges. The Bitcoin blockchain, the home of the dominant cryptocurrency BTC, has been grappling with heightened congestion levels.