• Litecoin’s large transactions increased while on-chain volume reached a two-year high.
• The price action supported a bullish momentum.

Of recent, Litecoin [LTC] has attracted increased trading participation due to speculation that the coin’s upcoming halving would result in a positive outcome for the price. Ergo, its on-chain transaction volume reached a two-year high, according to data from Santiment.

Besides, the number of whale transactions in the $100,000 range moved up to 1307. This signifies an increase in participation by large holders. And sometimes, this propels a spike in the LTC value.

⚡ #Litecoin‘s market value is +6.5% in the past 24 hours as its halving is now just over 2 months away. This surge has been powered by a massive 2-year high in on-chain transaction volume, and the highest whale activity since January. https://t.co/AcOYEV18tP pic.twitter.com/5x3oHWrl2I

— Santiment (@santimentfeed) June 1, 2023

The “lighter coin” is now more liquid 

Based on the information from the analytic platform, Litecoin’s volume reached 18.66 billion on 2 June. As a key metric for traders, the on-chain transaction volume gives a perception of user activity and liquidity. 

At press time, LTC’s value increased by 9.14%. It is noteworthy to mention that rising prices on rising volume indicates increasing momentum and potential uptrend.  

Before now, there were talk

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Author: Victor Olanrewaju

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