Litecoin continues to attract crypto investors despite the market correction

Litecoin (LTC) has been in a downtrend lately, hitting its lowest point since February.

Despite this decline, whales continue to accumulate the altcoin. LTC has underperformed since mid-May, but the cryptocurrency remains attractive to these big investors.

Onchain data indicates that the number of “the whales", holding 10,000 to 1,000,000 LTC tokens, has increased by 2% since the beginning of June, reaching 613 addresses.

These whales now own 56% of the total circulating supply of Litecoin. Accumulation suggests that they view the price decline as a buying opportunity, anticipating an increase in value.

Litecoin is trading at $69,94, down 18% over the past month. Observing market sentiment and technical indicators is critical to predicting the price movement of an altcoin.

While acquisition by whales is positive in the long term, caution is needed in the short term.