According to IntoTheBlock, Litecoin has enjoyed a healthy 12% increase this week. This week, the asset is trading at about $70.
According to data provided by IntoTheBlock, the share of profitable LTC addresses has grown to 47%, however, 48% of the holders are still unprofitable.
Experts from Santiment have studied the behavior of small and medium Litecoin addresses and have come to the conclusion that the cryptocurrency accumulation resumed in early November. Now it is ongoing, and such a strategy of wallets with a balance of 1 to 100 LTC might create the necessary conditions for the coin to rebound.
They believe that Litecoin holders mostly sold coins back in 2018-2019, but they resumed investments in May 2020.