Litecoin shows sign of life as whales enter month-long accumulation streak
According to Santiment data, whale addresses holding 10,000 to 1 million Litecoin (LTC) tokens have accumulated 5% of the total supply in the last 15 weeks, or nearly four months. The on-chain analytics note that this streak is the longest since 2017, while hinting at signs of life for the altcoin.
Litecoin has steadily declined since hitting $302 on November 10. Lower prices took LTC to a low of $131.50 on January 10, hence a slight rebound. The month-long fall saw the whales fill their bags, accumulating at a discount.
At the time of publication, Litecoin was changing hands at $138, down 2.35% on the day. At its present price, LTC is down 66.41% from all-time highs of $412 reached on May 10, 2021. According to CoinMarketCap, Litecoin presently ranks 22nd largest after it fell out of the top 10 following its recent declines.
MimbleWimble could be released soon
Litecoin has been working on MimbleWimble (MW) since at least September 2019. Although there was once a lot of interest, this has changed since the popularity of NFTs and DeFi.
In September 2020, the first MW testnet was launched after months of waiting. However, the project has been hampered by repeated delays.
The creative director of the Litecoin Foundation, Robbie Coleman, stated that MW is “currently undergoing a final code review”.
David Burkett, the project’s lead developer, hinted at a January release earlier this year.
