[ad_1]
The whale that seems to have taken over 12 million coins out of the market in a single creation of over forty new portfolios with 300,000 LTC, apparently it appeared on the Litecoin [LTC] platform. This is according to a recent one Tweet from the Litecoin foundation.
This great volume investor, now holds more than 15% of the total possible supply of LTC however, it is still anonymous to the foundation. There are wild speculations that cross the media about who the whale is and why it entered the market at this particular moment.
Return to glory
The last time over $ 1 billion has been moved on Litecoin network in a 24-hour period it was back in February of this year, after the initial crash staged when the panic swept the crypto markets. After that time the Litecoin network made transactions for $ 100 million a day regardless of fluctuations. Well, it seems that the coin has returned to glory.
It is assumed that potential investors may include a single large buyer or an institutional investor who may seek to consolidate an important position in the currency. Other speculations are that the addresses could be owned by Bakkt or Fidelity.
However, these are only speculations since the analysis of global trading does not take into account this pure volume and does not seem to be a direct consolidation from other addresses. Furthermore, it is not yet clear if it is an exchange that shifts the funds of its users offline or over the counter [OTC] the funds exchanged are transferred to private portfolio addresses.
How Litecoin sees this King Whale
The data contained in BitInfoCharts is equivalent to 60% of Litecoin's total market capitalization. According to Litecoin.com, & # 39;Litecoin 12 million is now out of circulation, increasing a significant potential sales pressure on the open market& # 39; In case this big whale is not an exchange.
The site also stresses that "if it is still an institution, it could be theorized that these addresses could potentially be owned by Bakkt or Fidelity, assuming in advance a large participation in the market in preparation for their respective launches. beginning of next year ".
Since its inception, the p2p digital currency has enabled immediate payments, almost zero, and completes transactional privacy to all its customers worldwide.
[ad_2]Source link
