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.
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