Recent weeks have seen an increase in whale activity in the Litecoin market, driven by ETF rumors and positive network metrics.
Litecoin Whale Activity
Data from IntoTheBlock shows a rise in large-scale Litecoin transactions, indicating interest from institutional investors and whales. Ali Martinez reported that whales have purchased approximately 930,000 LTC over the past two weeks, adding to market optimism.
ETF Prospects Fuel Market Optimism
The rumors of a Litecoin ETF have been a major driver of whale activity. Canary Capital's LTC ETF has been listed on the DTCC platform, boosting investor confidence. Analyst Eric Balchunas projects a 90% chance of approval for the ETF by 2025. Litecoin's network metrics also show positive signs: hash rate has reached an all-time high of 2.24 PH/s, and daily transaction volume increased by 243% to $9.6 billion.
Price Action and Market Sentiment
Despite positive indicators, Litecoin's price remains stable, consolidating after reaching $147 in December 2024. The current price is $127.46, with a market cap of approximately $9.63 billion and trading volume of $1.53 billion. Short-term volatility persists, but whales continue to accumulate, indicating a positive long-term outlook.
The rise in whale activity and ETF rumors are bringing positivity to the Litecoin market, supporting investor optimism and network strength.
