Litecoin holders are increasing their accumulation of the cryptocurrency ahead of its halving event, which will reduce block rewards to 6.25 LTC from 12.5 LTC. Mid-sized Litecoin whales have purchased 205,400 LTC since June 14, with their combined holdings amounting to 18.18 million LTC, worth approximately $1.7 billion. Crypto traders tend to perceive most coin halvings as bullish events for the market, and Litecoin miners have also been stockpiling their reserves.