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Assessing why LTC whales stood on thin ice despite Litecoin’s 2022 performance

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Litecoin processed 39 million transactions in 2022 It saw over 50 million unique wallet addresses, however at press time, LTC lost more than half of its value Litecoin [LTC], the decentralized, open-source cryptocurrency network closed the 2022 trading year with over 39 million transactions completed on it. The Litecoin Network completed over 39 million transactions […]

Despite the general downtrend that marked the last trading year, Litecoin recorded a few milestones on and off chain.

In addition to an overall decline in growth in 2022, on-chain data revealed that key LTC whale addresses gradually distributed their tokens within the 12-month period. The count rebounded temporarily at the beginning of June but soon fell as positive conviction exited the market gradually in the second half of the year.

 

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With Litecoin steady at $68.23, can the LTC bulls breach this critical resistance?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion LTC had a price pullback at $68.23 LTC could face further rejection in the $68.89-$69.55 area if it moves above $68.23 TradingView’s four-hour chart showed that Litecoin [LTC] had rallied since 29 December, with […]
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