- Litecoin whales have bought 930K LTC in two weeks, signaling strong market confidence amid growing ETF speculation and positive network metrics.
- Litecoin’s network hashrate hits an all-time high, with rising daily transaction volume and bullish ETF developments driving investor optimism.
Recent data shows an increase in whale activity surrounding Litecoin (LTC), with large-scale investors acquiring substantial amounts of the cryptocurrency. This surge in buying comes amid growing speculation about the potential approval of a Litecoin exchange-traded fund (ETF), fueling optimism in the market.
On-chain data from IntoTheBlock shows a rise in large Litecoin transaction volumes over the past 24 hours. The large transaction volume increased from 73.14 million LTC to 83.17 million LTC, signaling that institutional players and crypto whales are making moves. Such activity is often indicative of traders positioning themselves for long-term gains.
Adding to the sentiment, Ali Martinez reported on February 22 that Litecoin whales have acquired approximately 930,000 LTC in the past two weeks. This accumulation has added to the growing market optimism surrounding Litecoin despite the broader crypto market’s fluctuations.
Whales bought 930,000 #Litecoin $LTC in the last two weeks! pic.twitter.com/rBBP9wNDUD
— Ali (@ali_charts) February 22, 2025
ETF Developments Fuel Bullish Sentiment
One key factor driving this increased whale activity, as reported by ETHNEWS, is the growing buzz surrounding a potential Litecoin ETF. The latest development in this space involves Canary Capital’s LTC ETF being listed on the Depository Trust & Clearing Corporation (DTCC) platform under the ticker LTCC.
The appearance of the ETF on the DTCC platform has boosted investor confidence, as the approval of such a product would enable easier trading of Litecoin in the traditional stock market.
Additionally, as noted in our previous post, ETF analyst Eric Balchunas has projected a 90% chance of approval for this Litecoin ETF by 2025, a forecast that has further increased investor optimism.
Alongside these developments, Litecoin’s network metrics have also shown positive signs. The Litecoin network’s hashrate recently reached an all-time high of 2.24 PH/s, reflecting an increase in miner engagement and network security.
Moreover, Litecoin has recorded a rise in daily transaction volume. Since August 2024, the daily transaction volume has jumped by 243%, reaching $9.6 billion. This shows that Litecoin is being used more actively in real-world transactions rather than being merely held as a speculative asset.
Price Action and Market Sentiment
Despite these bullish indicators, Litecoin’s price has remained stable, consolidating within a range since hitting a high of $147 in December 2024. However, the coin recently rose above its daily 50-day simple moving average (SMA) of $111, pointing out that a sustained hold above this level could pave the way for future price gains.
As of press time, Litecoin was trading at $127.46, showing a decline of 5.15% in the past 24 hours. Its market capitalization is approximately $9.63 billion, with a trading volume of $1.53 billion during the same period. Despite some short-term volatility, the long-term outlook for Litecoin appears promising, as whales continue accumulating the asset and market metrics continue to show positive signs.
