Litecoin Whales Arrived Just In Time For Upcoming LTC Rally?

Litecoin News: Amid Bitcoin’s (BTC) six month high price and speculation for a potential altcoin rally, the crypto market is also going through the regulatory hurdles especially in the US. However, the surprise crypto rally in January 2023 showed that the traders defied the odds coming from the FTX collapse and related ripple effects. However, a section of traders with deep altcoin bags appear to still be cautious of taking an entry in the current scenario. This is gradually unfolding as big whales continue to reactivate their assets, in what could be in anticipation of profit making opportunities. Does this mean the crypto winter is finally behind us?

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Litecoin Whales Among Biggest

In an interesting coincidence, the LTC price drop in last few hours came in parallel with huge accumulation of the altcoin. According to WhaleStats, Litecoin is currently among the top 10 purchased tokens by 100 top Binance Smart Chain (BSC) whales in the last 24hrs. More importantly, the current price level at $95 could be a good base to gain strength for a rally to $110, which is inevitable, according to Kong Trading.

At the current level, LTC price is at an eight month high range of $93 to $100. As of writing, LTC price stands at $94.97, down 3.06% in the last 24 hours, according to CoinGape price tracker.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @BitcoinReddy and reach out to him at [email protected]