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A series of whale movements have been seen by the cryptic market. Around 36 million Litecoins are moving in a new whale [LTC] they have been transferred to the first 50 LTC portfolios. It is possible that these LTCs have been moved to exchange portfolios that usually have substantial amounts of LTC.
On December 4, a twitterati called the whale watcher LTC tweeted that the top 50 LTC portfolios received 45,000 litecoins of what they sent. In another tweet from yesterday, the whale watcher noted another movement in which 20,000 LTCs were sent to the fifth largest LTC portfolio. A few minutes later he tweeted again to say that "the best LTC 50 portfolios have sent 20,000 Litecoin more than they have received".
#CryptoUpdate: In the last 15 minutes, the first 50 $ LTC the portfolios received another 45,000.00.000 #Litecoin of what they sent
– LTC Whale Watcher (@LTCWhaleWatcher) December 4, 2018
The 5th largest $ LTC portfolio has just sent 20,000.0 #litecoin
– LTC Whale Watcher (@LTCWhaleWatcher) 5 December 2018
#CryptoUpdate: In the last 15 minutes, the first 50 $ LTC the portfolios sent more than 20,000.00.000 #Litecoin of what they received
– LTC Whale Watcher (@LTCWhaleWatcher) 5 December 2018
These significant amounts of transactions cause alarm to the portfolio ecosystem. On November 30th, Weiss Ratings, a company that evaluates cryptocurrencies, tweeted that about 35.4 million LTC, 60% of the total supply has been moved from a portfolio. He suggested that this indicate the centralization of the Litecoin network.
The litecoin whales could accumulate Litecoin to alternate the market. The whale can also discharge this amount to make a decline in the Litecoin market. Other cryptocurrencies have also noted that they have significant amounts moving towards unidentified portfolios. Recently, over $ 989 million of XRPs have been moved over a four-hour period. It has been noted that the largest transaction is 9991,999,959 XRP. This transaction gave rise to a series of Twitter comments that suggested that Ripple was not really decentralized.
Image via Shutterstock
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