Litecoin Whale Wallet Watch: Second Biggest LTC Wallet Receives Nearly 33,000 Coins ($1.8 Million)

Litecoin has surged 19 percent from yesterday’s $46 reaching $55.76 today. The 5th largest cryptocurrency is moving to take the 4th place from EOS with the difference of $38 million left in their market cap to cover.

Litecoin Leads The Market With 19% Gains

The crypto market is yet again in the green with Litecoin leading the cryptocurrency gains, this time as well. The fifth largest cryptocurrency by market cap is enjoying the highest percentage of gains among the top cryptos with 24-hours greens of more than 13.90 percent. In the BTC market as well, it is up by over 10 percent.

At the time of writing, Litecoin has been trading at $55.76 while managing the daily trading volume of over $2.5 billion.

Overall, Litecoin is up by 19 percent from yesterday’s $46. Since hitting its yearly low in 2018 at about $23, Litecoin has been moving upwards and leading the green rally as it has been 139 percent up from its December lowest.

Litecoin Price chart, Source: Coinmarketcap

Litecoin is really close to taking the 4th spot from EOS as there is a difference of about $38 million between both the market cap. Though EOS has also been rising with as much speed as Litecoin, EOS has slowed down to a 10 percent surge while Litecoin is still rising by about 14 percent. So, it’s a real possibility.

Litecoin To Dominate The Market

Litecoin price saw an uptick after the 2nd largest Litecoin whale accumulated about 32,700 LTC yesterday. The bull market is certainly a good time to accumulate digital assets, more so with the LTC as this cryptocurrency has a number of events working in its favor.

The last time the LTC whale accumulated 32k LTC was on February 20 and February 15 when the Litecoin price saw upticks as well.

Litecoin is already working on reaching and educating millions about Litecoin through its partnerships as we reported recently. The plan for the 5th largest cryptocurrency is to become the digital payment of choice of the next generation. Apart from this, Litecoin Foundation and Litecoin creator Charlie Lee are already exploring and working on fungibility and confidential transactions along with Mimblewimble implementation.

It is very much a real possibility that Litecoin will surpass even the 2nd largest cryptocurrency ETH’s market cap, though for a brief moment as crypto trader Squeeze believes 2019 will be the year of Litecoin.

The biggest event coming is Litecoin block reward halving that is 154 days away on August 7, 2019, that will reduce the coin reward from 25 to 12.5 coins. Historically, it is a bullish event and crypto community is expecting a bullish wave in its wake.

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