Litecoin (LTC) is rallying with strong support from shark addresses that have accumulated more than $108 million worth of tokens in months, according to Santiment.
Cryptanalysis firm Santiment He says Shark addresses have “aggressively” accumulated the token since July 2022, helping to push it towards $100.
“Litecoin has now risen in price by 89% since its drop below $50 on November 9. The culprits for the 11+ year coin surge include addresses holding between 100 and 10,000 LTC, which have added 1.15 million more coins in the last six months, an increase of 4.92%.
Litecoin is worth $92.94 at the time of writing.
holyday too aspect in a surge in whale transaction activity for Curve (CRV), the governance token of decentralized exchange Curve Finance. The increase in whale activity is a potentially bullish sign.
“Curve’s circulating supply has been relatively stable, and whale transactions have increased recently, showing increased engagement among large holders, while small and mid-sized holders have remained stagnant.”
CRV is worth $1.02 at the time of writing.
Lastly, Holiness He says Bitcoin (BTC) saw the highest profit-to-loss transaction ratio in nearly two years when the price hit $23,920, signaling that its value will fall. Santiment says that if the losing trades start to pick up, it would be a sign that the price will go back up.
“Some warning signs that yesterday’s cryptocurrency prices would see a reversal today include the highest win/loss trade ratio for Bitcoin since Feb. 17, 2021. If losing trades stack up now, prices are more likely to recover.”
Bitcoin is trading at $22,923 at the time of writing.
Don’t miss a thing: sign up to receive crypto email alerts straight to your inbox
Check Price Action
follow us TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.
Image generated: half way
