LTC Whale Exchange Net Inflow Spikes by 464%, Signaling Increased Selling Pressure

IconCryptoNewsTerminal Staff10 Jul, 2024

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LTC Whale Exchange Net Inflow Spikes by 464%, Signaling Increased Selling Pressure

Data from Bybt reveals a significant surge of 464% in the net inflow of Litecoin (LTC) transferred by whales to exchanges over the past week. This development indicates a heightened selling pressure for LTC. Whales transferring large amounts of LTC to exchanges often suggests an intent to sell. Such inflows frequently increase the supply on exchanges, leading to downward pressure on the price. The recent spike in whale inflows may have contributed to the observed decline in LTC's value. It is worth noting that the crypto market remains volatile, and such price movements are not uncommon.