Litecoin Breaks $100 as Whale Accumulation Sparks Massive On-Chain Surge

• Litecoin breaks $100 as whale accumulation drives significant buying, fueling investor optimism and market momentum.
• LTC outperforms major altcoins like Ethereum, Solana, and XRP, surging sixteen percent in twenty-four hours.
• Coinbase’s expansion into the UK strengthens LTC adoption, attracting both retail and institutional investors globally.

Litecoin (LTC) on-chain activities have captured everyone’s attention this week, as it has emerged as a bright spot amidst a calm market condition being observed in Bitcoin and other notable cryptocurrencies, as Bitcoin momentarily dipped below the $100,000 level.

Litecoin Outperforms Other Major Altcoins

Santiment, a blockchain analytics tool, highlights Litecoin as outperforming the performance of most other altcoins, such as Ethereum, Solana, and XRP. On 7th November, LTC surpassed the level of resistance at $100, trading slightly higher as a result of high demand. The sudden increase from $86.10 to $104.46 in the 24 hours indicated a boost of more than 16%.

Source: X

At press time, Litecoin is trading at $99.81 with a 24-hour trading volume of $3.52 billion and a market cap of $7.64 billion. LTC price increased 13.62% in the last 24 hours.

Source: X

A major contributing factor to this rise has been the accumulated holdings of large Litecoin holders. The number of wallets holding in excess of 100,000 LTC has risen by over 6% within the last 90 days, indicating that whales continue to purchase the asset.

Essentially, the action of whales accumulating the asset has contributed to the Litecoin on-chain transaction volume reaching a record high of $15.1 billion daily.

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Litecoin Gains Momentum Amid Coinbase Expansion

Even with these advancements, though, Litecoin’s value is still below where it traded in October, at levels higher than $130. It appears as though many investors are taking advantage of the current price as a chance to buy LTC while expecting a future comeback to higher levels.

The current rise can also be backed as Coinbase has expanded operations to the UK, featuring Litecoin as a notable asset. The initiative to offer services to the European market could strengthen the adoption of LTC, adding to the rise of cryptocurrency.

LTC, as it continues to gain interest from both institutional investors and retail investors, is being closely watched to see if it can regain its past highs.

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