Litecoin Whale Deposit 500,000 LTC Binance: The price is extended?

admin3 days ago

According to the on -chain data, Litecoin Whale created a huge deposit for Cryptocurrency Exchange Binance.

Binance just received a huge lysoco inflow.

Cryptocurrency Transaction Tracker Service Whale Alarm data shows that big movements have been found in the Litecoin network for the last 24 hours.

The transmission of the problem included a change of 500,000 LTC throughout the network. When the chain run the transaction, the stack was worth about $ 5.13 million. Given the large scale related to movement, it is likely that whale reality is responsible.

Whales are the largest investors in the network, and it can affect the market to some extent because of the ability to make a big deal like this latest transaction.

Therefore, this rich holders’ behavior is often worth keeping the eyes because it can talk about what emotions are among these important cohorts, even if they do not always affect the LTC price.

However, in general, it can be difficult to say clearly what whales do only in trading activities, considering the characteristics of the blockchain. Nevertheless, sometimes one of the wallets associated with transactions can be connected to the central entity, providing guessing room.

The latest Litecoin movement is fortunately this type. The details of the address related to the transmission are as follows.

Light

As you can see above, the whale has created a Retechoin transaction in a few unknown wallets. These addresses are not known to have nothing to do with the centralized platform, so it can be assumed as an investor’s personal and early wallet.

The destination of the transaction was the wallet attached to Binance, an Exchange. This type of movement, in which coins move from personal address to exchange custody, is known as exchange inflow.

In general, investors deposit tokens to these platforms to use one of the necessary services, including sales. Therefore, exchange inflow may sometimes affect the weakness of the asset price.

However, it is not known whether the whale truly tried to sell the latest exchange. In the scenario planned by the investor, it can cause problems with Litecoin, taking into account the fact that the size and price of the movement have already hit a significant hit last week.