This week, Litecoin (LTC) emerged as a key player in the cryptocurrency market, supported by significant indicators. According to data shared by Santiment, Litecoin’s price jumped from $86.10 to $104.46 within 24 hours, before settling at approximately $98.86, marking an 11.26% increase. During the same period, trading volume surged by approximately 190%, reaching $1.73 billion. Additionally, the number of wallets holding 100,000 LTC or more increased by over 6% in the last 90 days, signaling substantial accumulation by large investors. This trend brought an all-time high record in the network’s daily on-chain transaction volume, reaching $15.1 billion.
Significant Wallet Accumulation and On-Chain Volume
Analysts identified two main dynamics driving Litecoin’s rise: active accumulation of LTC by large wallets, often called “whales,” and the rapid increase in on-chain transactions. The daily transaction volume hitting $15.1 billion demonstrates that the network’s strength goes beyond speculative activities and indicates a real increase in utility.
The surge in large investors suggests that the market might be stabilizing. These developments enabled Litecoin to outperform other major cryptocurrencies such as Ethereum, Solana, and XRP in recent weeks.
Market Movements and Regulatory Impact
Another noteworthy aspect of Litecoin’s rise was Coinbase’s decision to offer Litecoin access to users in the United Kingdom. This move is part of the exchange’s expansion into the European market, and the introduction of new users further boosted Litecoin’s trading volume and recognition.
Additionally, Solana (SOL) has been highlighted by analysts as a cryptocurrency that should be included in investor portfolios by 2025. Experts believe that both Solana and Litecoin, with their robust network structures and increasing transaction volumes, will continue to garner attention in the coming period. However, technical indicators suggest that Litecoin is struggling with resistance levels in the $102–$110 range. A failure to close above this region could trigger a short-term correction risk.
The data supporting Litecoin’s rise points to more than just a price increase; it indicates heightened network activity, investor confidence, and expanded international reach. However, the inherent high volatility of the cryptocurrency market still poses a significant risk. Therefore, despite the strong momentum, investors should remain cautious and not overlook potential pullback scenarios.
According to experts, while Litecoin holds stable growth potential in the medium term, its price trajectory will depend on Bitcoin’s performance and overall market liquidity.