Reasons Behind Litecoin’s Price Increase: Approaching Halving, On-Chain Transactions, and Whale Activity

On-chain data agency Santiment has identified three reasons for the recent increase in Litecoin's price, including the approaching halving event in August. Since May 25, Litecoin has risen by almost 14% and currently trades at $94.57. The first reason for the growth is the upcoming halving event, which will cut miners' rewards per block in half. Additionally, there has been a two-year high in the volume of on-chain transactions and the highest whale activity since January. BitPay has also announced that Litecoin has become the second most popular cryptocurrency transacted through its platform and is offering a giveaway of $250 worth of LTC to celebrate.

Litecoin $91.69

-2.99%

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