Litecoin’s market value rip caused frantic activity on the network, evidenced by the jump in whale transactions and liquid supply.was set to finish the work week with significant gains. As of this writing, the “Digital Silver” exchanged hands at $68.55, up 7.95% from what it was a week ago, according toWhale investors appeared to be the main contributors to the increased network traffic.
However, the sentiment changed dramatically as the rally halted and prices fell. Consequently, traders looking to profit from price declines outnumbered those betting on price increases.Having said that, interesting findings came to light through the examination of Whale vs Retail Delta indicator. The negative values suggested that more retail investors were taking long positions than whale investors.
However, as the indicator trended towards 0 in the last few days, it could be said that whales started to increase their exposure to longs. The bullish sentiment was further exemplified by the shift in market mood from neutral to greed. Generally, greed drives prices up.Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains. His focus lies on the intersection between cryptos and traditional finance. He prefers DC over Marvel, cats over dogs and Hyderabadi Biryani over Kolkata Biryani.
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