Litecoin is recording a 100% increase in the usual number of large transactions, greater than $100,000
According to Santiment, Litecoin is seeing massive transactions when whales are busy. The online analytics firm reports that most of the top 100 cryptocurrencies continue to see massive whale trades. It noted that specific cryptocurrencies, such as Litecoin (LTC), Axie Infinity (AXS), Maker (MKR), Chiliz (CHZ), Compound (COMP), TUSD, and SNX are recording gains of 100 % on regular large transaction volume – more than $100,000.
🐳 #Crypto‘s top 100 assets continue to see massive whale transactions occur. Among assets that are seeing at least TWICE the amount of $100k+ valued transactions as usual include: $LTC, $AXS, $MKR, $CHZ, $COMP, $TUSD, and $SNX. Access this model now. 😎 https://t.co/rF3isa71La pic.twitter.com/F4q1Qq4tAu
— Santiment (@santimentfeed) March 31, 2022
Litecoin sees a 100% rise in large transactions as accumulation by whales continues
Litecoin declined to enter a consolidation shortly after hitting $302 on Nov. 10. The recent drop in price caused LTC to hit a low of $91.52 on Feb. 24, recovering from there. Later. The month-long fall sees whales fill their pockets, accumulating at a discount.
At press time, Litecoin is changing hands at $130, down 1.13% over the past 24 hours. LTC is down 68.60% at current prices from its all-time high of $412 reached on May 10, 2021. According to CoinMarketCap, Litecoin is currently 21st after falling out of the top 10. recent declines.
In January, the Litecoin Foundation, the non-profit organization behind technical development and community management, announced the activation of a Mimblewimble Extension Block (MWEB) upgrade after years of development. It announced that the Mimblewimble Extension Block upgrade – which will be included as part of the Litecoin Core 0.21.2 release candidate, also consists of a secure and privacy-enhanced Taproot upgrade.
We are working hard towards a final Litecoin Core 0.21.2 release, but we might need to do a RC6 release before that. Once we’ve released the final code, we will make another push to get more MWEB signaling. In the meantime, help us continue to test MWEB transactions on testnet.
— Charlie Lee (@SatoshiLite) March 30, 2022
In the latest update by Litecoin creator Charlie Lee, everyone is still getting ready for the final Litecoin Core 0.21.2 release:
”We are working hard towards a final Litecoin Core 0.21.2 release, but we might need to do an RC6 release before that. Once we’ve released the final code, we will make another push to get more MWEB signaling. In the meantime, please help us continue to test MWEB transactions on testnet.”
Litecoin price has steadily increased over the past seven days, up 6.05%. This continues the recovery from the $91 level reached on Feb. 24.
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