After the debt limit agreement from the USA was positive, Bitcoin rose by about 2% to $ 27,200.
While altcoins also rose along with BTC, Litecoin (LTC), which was halving in the next August, increased by about 5%.
LTC, which has risen above $ 95 with its rise, shows positive price movements before the halving, which is eagerly awaited by investors.
Examining LTC in detail, Santiment noted that in addition to the positive developments in LTC price, in-chain transaction volumes and whale activity on the Litecoin blockchain have increased.
Santiment shared the following statements:
“Litecoin's market cap has increased by 5-6% in the last 24 hours close to a little over 2 months before the halving, which is expected to happen in August.
This increase in LTC price was also supported and supported by the on-chain transaction volume reaching a 2-year high and the highest whale activity since January.”
⚡ #Litecoin's market value is +6.5% in the past 24 hours as its halving is now just over 2 months away. This surge has been powered by a massive 2-year high in on-chain transaction volume, and the highest whale activity since January. https://t.co/AcOYEV18tP pic.twitter.com/5x3oHWrl2I
— Santiment (@santimentfeed) June 1, 2023
The halving is expected to raise the Litecoin price significantly. Because after the halving, the reward of LTC miners per block will be reduced from the current 12.5 LTC to 6.25 LTC.
In addition, as it will be remembered, Litecoin inventor Charlie Lee also stated in his statement at the beginning of May that he expected a rally of at least 10% against Bitcoin in LTC.
*Not investment advice.
