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
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