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As Litecoin Whales Gather, Can Bitcoin’s Fork Make Gains

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Litecoin has been making gains over the past 7 days, especially as Litecoin whales have been piling up coins and bolstering their reserves. In fact, the level of accumulation and the duration of the stockpiling is the longest since 2017, according to a tweet from the project. After trading a little lower in the last 24 hours, Litecoin has gained around a percent on both Bitcoin and Ethereum. However, the token lost over 5% in 30 days and nearly 22% in the last 90 days. In spite of all this, The Litecoin Foundation tweeted that the protocol will allow for the creation of custom currencies, NFTs, and blockchain-based crowdfunding projects in the very near future. Designed to provide fast, secure, and affordable payments by using the unique properties of the blockchain, Litecoin was trading nearly 8% lower, sitting at just over $140 on almost a 50% increase in trading volume but almost an 8% drop in its market cap.

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