Data on the chain show that Litecoin Whale made a huge deposit for binance exchange of cryptocurrencies last day, which may be bear at LTC.
Binance has just received a huge influx of Litecoin
According to data from the cryptocurrency tracking tracking service Whale alertIn the last 24 hours, a gigantic traffic has been noticed in the Litecoin network.
The questioning transfer included a change in 500,000 LTC throughout the network. When the chain made the transaction, this pile was worth about $ 51.3 million. Considering the gigantic scale related to movement, it is likely that the whale unit was responsible for this.
Whales are the largest investors on the web who can have a certain degree of impact on the market because of their ability to make gigantic transactions like the latest one.
As such, the behavior of these huge owners can often be worth observing, because even if it can not always affect the price of LTC, it can still tell us about what sentiment looks like in this vital group.
In general, it can be challenging to say what whales from transactional activity are doing, taking into account the anonymous nature of blockchain. Nevertheless, one of the portfolios involved in the transaction can be combined with a central unit that can provide a place to speculate.
The latest Litecoin movement is fortunately of this type. Here are the details of addresses related to the transfer:
As you can see above, the whale made Litecoin transactions from several unknown wallets. Such addresses are those that they are not known as related to any centralized platform, so they can be assumed that they are the investor’s personal self -service portfolios.
The destination of the transaction was a wallet attached to binance, exchange. Movements of this type, in which coins go from personal addresses to exchange care, are known as exchange revenues.
Usually, investors pay their tokens to these platforms when they want to utilize one of the required services, including sales. Therefore, exchange revenues can sometimes have a bear influence on the price of an asset.
It is not known, however, whether the whale really intended to sell with the latest exchange of exchange or not. In the script in which the investor planned this, it may mean problems with Litecoin, taking into account the scale of movement and the fact that its price has already registered significant payments over the past week.
LTC price
Litecoin recently fell with the rest of the cryptocurrency sector, which reduced its price to USD 104.
