Last week, someone from a single address moved more than 35 million Litecoin tokens in 24 hours, representing 60 percent of the coin's total market capitalization. However, trading on crypto platforms has nothing to do with this transaction. It is possible that this is an over-the-counter transaction.
Litecoin.com first tweeted the news on December 3, then retweeted it by Litecoin creator Charlie Lee.
"New Litecoin whale completes $1.1 billion transaction in one day."
With these funds, it was possible to add 40 new wallets to the list of the 100 richest Litecoin wallets. All wallets have around 300,000 Litecoin each.
This transaction is the largest since February, when about $1 billion worth of coins were moved.
Since then, the network's daily turnover has been around $100 million every day, despite price declines, which could indicate some kind of activity driving the use of the coin. This activity may have been driven by the adoption of Litecoin rather than speculation on its price.
No one knows who this whale is, but it is still worth remembering that he now owns 15% of all coins. This could reduce the selling pressure that is negatively impacting the Litecoin price.
According to cryptodaily.co.uk
You May Also Like
Bitcoin Cash Stress Test Conducted
According to BitInfoCharts, as part of a stress test conducted on September 1, the Bitcoin Cash (BCH) network processed more than 2.1 million transactions and this did not affect the fee.
Chinese cryptocurrency ranking: Bitcoin in the top 10 and “surprise” in 3rd place
China has released the latest edition of the ranking of state-approved cryptocurrencies, still giving the palm to EOS, slightly raising Bitcoin, and with a surprise in the top three.
