**Litecoin Whales Make a Splash: 930K LTC Purchased in Just Two Weeks, Boosting Market Confidence Amid ETF Buzz and Positive Network Trends**
In an exciting turn of events, Litecoin whales have collectively acquired 930,000 LTC over the past two weeks, showcasing a strong sense of market confidence as speculation around a potential Litecoin exchange-traded fund (ETF) grows alongside positive network metrics. The Litecoin network has recently achieved a remarkable milestone, with its hashrate soaring to an all-time high, while daily transaction volumes are on the rise, further fueling investor optimism.
Recent data indicates a notable uptick in whale activity surrounding Litecoin (LTC), as large-scale investors are making significant purchases of the cryptocurrency. This buying frenzy coincides with increasing speculation about the possible approval of a Litecoin ETF, which has sparked excitement in the market. On-chain data from IntoTheBlock reveals a surge in large Litecoin transaction volumes in the last 24 hours, with the total rising from 73.14 million LTC to 83.17 million LTC. This trend suggests that institutional players and crypto whales are actively positioning themselves for potential long-term gains.
Adding to this positive sentiment, Ali Martinez reported on February 22 that Litecoin whales have amassed approximately 930,000 LTC in the last two weeks. This accumulation has contributed to the growing optimism surrounding Litecoin, even as the broader cryptocurrency market experiences fluctuations.
One of the key drivers behind this increased whale activity, as highlighted by ETHNEWS, is the buzz surrounding a potential Litecoin ETF. The latest development in this area involves Canary Capital’s LTC ETF being listed on the Depository Trust & Clearing Corporation (DTCC) platform under the ticker LTCC. The ETF’s presence on the DTCC platform has bolstered investor confidence, as its approval would facilitate easier trading of Litecoin in traditional stock markets. Furthermore, ETF analyst Eric Balchunas has projected a 90% chance of approval for this Litecoin ETF by 2025, a forecast that has only heightened investor enthusiasm.
In addition to these promising developments, Litecoin’s network metrics are also showing encouraging signs. The network’s hashrate recently reached an impressive 2.24 PH/s, indicating increased miner engagement and enhanced network security. Moreover, Litecoin has experienced a significant rise in daily transaction volume, which has surged by 243% since August 2024, now reaching $9.6 billion. This uptick suggests that Litecoin is being utilized more actively in real-world transactions, rather than simply being held as a speculative asset.
Despite these bullish indicators, Litecoin’s price has remained relatively stable, consolidating within a range since peaking at $147 in December 2024. However, the coin has recently climbed above its daily 50-day simple moving average (SMA) of $111, indicating that maintaining this level could set the stage for future price gains.
