- Litecoin was down by over 3% in the last seven days.
- Metrics and market indicators looked bearish on LTC.
Whales have always played a major role in shaping the market for most cryptos, including Litecoin [LTC]. Recently, an interesting correlation has been etched between whale activity and LTC’s price, which could help gauge what the future of the coin holds.
Whales’ influence on Litecoin is interesting
The last week was not the best for Litecoin investors, as the coin’s price dropped. According to CoinMarketCap, LTC was down by more than 3% over the last seven days. At the time of writing, it was trading at $69.81 with a market capitalization of over $5 billion.
While the coin’s price dropped, Ali, a popular crypto analyst, pointed out an intriguing relationship between LTC’s price and whale holdings in a tweet.
#Litecoin | There’s a fascinating correlation to observe – the link between $LTC whale holdings and its price movements.
If this trend continues, a rise in #LTC whale holdings might just be the signal of the next price upswing. pic.twitter.com/vSJmNx4kFa
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