![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
Cryptocurrency News Articles
Litecoin (LTC) Breaks Above Crucial Resistance Levels Amid Growing Institutional Interest and Whale Accumulation
Jan 17, 2025 at 01:00 am
Litecoin (LTC) has broken above crucial resistance levels. It surged to $118.35 amid growing institutional interest and significant whale accumulation.
Litecoin price surged to $118 amid growing institutional interest and significant whale accumulation.
The movement coincides with CanaryFunds’ amended S-1 ETF filing, suggesting potential regulatory engagement that could reshape LTC’s market dynamics.
Institutions might be preparing for something big with Litecoin (LTC). At the time of writing, LTC price surged to $118.35 amid growing institutional interest and significant whale accumulation, as highlighted by Footprint Analytics.
The latest development comes as CanaryFunds filed an amendment to its S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a Litecoin exchange-traded fund (ETF).
The filing aims to establish the VanEck Vectors Litecoin Trust, which will offer ETF shares on the Cboe BZX Exchange. Canary is an affiliate of VanEck, an asset management firm.
While the filing is a crucial step, it still requires the SEC’s approval, including Form 19b-4, for the ETF to begin trading.
However, the development has sparked speculation and optimism among market participants.
CanaryFunds’ filing comes amid growing institutional interest in Litecoin. Footprint Analytics data shows a substantial build-up in large addresses, defined as those holding 10,000+ LTC.
According to Footprint Analytics, these addresses have been accumulating over 250,000 coins since 9 January.
This aggressive accumulation pattern is evident in the graphic below, where the line representing large addresses (violet) shows a steady increase in holdings, while the total Litecoin supply (dotted line) remains relatively stable.
Footprint Analytics also highlights the role of whale activity in Litecoin’s price movements.
The metric “total holdings by whales” (violet) often coincides with surges in LTC price (dotted line), suggesting a strong correlation between large-scale accumulation and price appreciation.
In early December, whales ramped up their buying activity, leading to a surge in total holdings to 48.89M LTC. This period also coincided with Litecoin’s price breaching $118 for the first time in 2025.
After reaching a peak of 48.9M LTC in mid-December, whale activity appears to have shifted, with holdings gradually declining to around 48.7M LTC at the time of writing (violet line in the graphic below).
This change in accumulation aligns with Litecoin’s price pulling back from highs above $120 and consolidating around $118 levels.
The institutional interest and whale activity are presenting a compelling case for those keeping a close eye on Litecoin’s movements. As the dust settles on the ETF filing and institutional participation, it remains to be seen how these factors will continue to shape LTC’s price trajectory.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Cumberland SG Pte. Ltd. Receives in-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) to Operate as a Major Payment Institution (MPI)
- Mar 19, 2025 at 02:50 pm
- Cumberland SG Pte. Ltd., the Singapore-based Asian arm of U.S.-based crypto trading company Cumberland, has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) to have a Major Payment Institution (MPI) license.
-
-
-
-
-
-
-
- New Whales Have Been Accumulating Bitcoin (BTC) Aggressively, Suggesting Strong Confidence
- Mar 19, 2025 at 02:46 pm
- Bitcoin (BTC) continues to trade below the psychological $90,000 level, with its price standing at $82,346. This marks a 24.3% drop from its all-time high above $109,000 recorded in January.
-