Litecoin Whales Arrive Just in Time for Upcoming LTC Rally
Litecoin News: Despite Bitcoin’s (BTC), six-month high price and speculation about an altcoin rally, the cryptocurrency market is also facing regulatory hurdles in the US. The surprise crypto rally that took place in January 2023 proved that traders were able to overcome the odds despite the FTX collapse, and the ripple effects. However, traders with deep altcoin pockets appear to be cautious about taking part in the current situation. This is slowly happening as big whales continue reactivating their assets in anticipation of profit-making opportunities. Is this a sign that the crypto winter is over?
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It is interesting to note that the LTC price decline in the last few hours coincided with the large accumulation of altcoin. WhaleStats reports that Litecoin is among the top 10 tokens purchased by 100 top Binance Smart Chains (BSC) whales within the last 24 hours. Kong Trading believes that the current price of $95 is a good starting point to gain strength for a rally up to $110.
LTC price currently stands at $94.97, an eight-month high range of $93-100. According to CoinGape price tracker, LTC price is at $94.97 as of writing. This is 3.06% lower than the previous 24 hours.
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