In the past 24hrs over $3.5 billion dollars in value has been moved in ‘Large Transactions’ alone 👀Source: @intotheblock #FridayFeelings pic.twitter.com/TpCJO3Fsy1 — Litecoin (@litecoin) August 16, 2024 Significant Litecoin Whale Activity IntoTheBlock’s large “Large Transactions” metric shows an interesting movement among addresses holding large amounts of Litecoin.
This, in turn, has contributed to a negative $14.05 million netflow into crypto exchanges in the past seven days. Related Reading: Polkadot (DOT) Investor Confidence Falls As Token Loses 16% A negative net flow indicates that more Dogecoin is being withdrawn from exchanges than deposited, which can often signal that holders are opting to move their assets to private wallets in anticipation of holding them long-term rather than selling. Furthermore, on-chain data shows that Dogecoin addresses with a balance have grown to 6.56 million, which is a growth of 20% from eight months ago.
This level of engagement has been revealed through on-chain transaction data, which has shown multiple instances of large cryptocurrency movements to and from exchanges. Related Reading: Cosmos Price Analysis: Why This Analyst Says ATOM Has A Great Chart’ One cryptocurrency that has particularly stood out in this trend is Litecoin.
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