Blockchain analytics firm Santiment says Litecoin (LTC) is experiencing a strong wave of accumulation from whales, or wallets with at least 1,000 to 100,000 LTC.
In a new report, Santiment says that Litecoin whales have increased their holdings by roughly 270,000 LTC, or about $30,000,000 since the beginning of July.
The crypto insights firm also observes that the activity on the Litecoin network is surging despite the grinding bearish price action.
“Despite a -13.8% drop in price, the amount of unique addresses interacting with LTC has grown by +47.5% over the last 10 days. Potential bullish divergence?”