The Price of Litecoin Exceeds $100 for First Time Since May 2022

Reading time: < 1 minute

The price of Litecoin has been hovering around $100 for the past ten months.

Now, the LTC rate has strengthened to $100.22 for the first time since the beginning of May. After the crash of crypto derivatives exchange FTX, the value of the asset increased by 80%.

According to the experts of Santiment, there is an increasing support for Litecoin from large wallets that control between 100 and 10,000 coins.

Within the two months after FTX filed for bankruptcy, these investors increased their holdings by another 0.5% of the LTC supply.

Almost 25% of the total cryptocurrency turnover is now under the control of sharks.