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Whales accumulate in this currency

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On-chain data shows that massive whales are piling on Litecoin. These whales now own about 15.4% of the total Litecoin supply, which is the highest amount these large addresses have owned in over five years.

Whales collect Litecoin

information from Emotion, an on-chain analytics company, shows that massive Litecoin whales have accumulated the currency steadily in the past five weeks. The high interest in the coin can be seen in the “LTC Supply Distribution,” which shows which portfolio groups hold a percentage of the total LTC supply.

Portfolio groups, also known as bands, depict portfolio balances that fall within a range. The supply distribution data for each pool is then used to determine the total percentage of LTC supply held by the wallets included in the pool.

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Over the past five weeks, the group that reported the most activity was the group with between 1 million and 10 million coins. According to the current price of LTC, these are wallet addresses containing more than $78.2 million in LTC tokens.

These large wallet addresses have accumulated more tokens, as shown by the supply distribution curve over the past few years. The percentage of Litecoin tokens held by these huge whales has been on a massive bullish trend in the past few weeks. This indicates that the mega whales accumulated more tokens while expanding their reserves during this time.

The past five weeks have also seen a sharp increase in the number of LTC tokens held by this pool. During this period, the group has added 2.95 million LTC tokens to its holdings. The value of these tokens is around $231 million.

With the latest increase in the number of LTC tokens held by this wallet group, it now holds 15.4% of the total circulating supply of LTC. This is the highest level of the token held by this group since 2017. The accumulated trend of this portfolio group shows that it is bullish on LTC and expects the price to rise in the long run.

Litecoin was not spared from the bear market that has rocked the crypto industry for most of this year. At the time of writing, LTC is trading at $78.30, according to Coingecko, after gaining 4.4% in the past 24 hours. Litecoin is down about 45% year over year.

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Accumulation before the halving?

Whales are showing increasing interest in Litecoin. This interest could stem from a noticeable change in the dynamics of the token supply. In about seven months, the Litecoin network will undergo its third mining reward halving.

A halving event is when the rewards paid to Litecoin miners are reduced. The reward will decrease from 12.5 litecoin to 6.25 litecoin per block. During the previous halving, the LTC price usually recorded gains, and there is speculation that a similar trend will emerge in 2023. Therefore, we can see these huge whales continue to accumulate LTC in the coming months.

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Blockchain

BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

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Blockchain

DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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Blockchain

SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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