Litecoin Whale Addresses Plummet to Cycle Lows Amid Grayscale ETF Filing
Litecoin whale addresses have dropped to levels not seen since the 2022 cycle bottom, according to on-chain analyst Joao Wedson. The contraction in large-holder participation is a signal of reduced involvement during the current market phase.
The number of Litecoin addresses holding between $1 million and $10 million, as well as those above $10 million, has fallen back to levels last seen around the 2022 cycle bottom. This pattern has appeared before during periods of market stress, Wedson noted in a post on X.
The analyst emphasized that this data point does not confirm a bottom has formed. Instead, it places current whale activity near historically low readings. Reduced large-holder presence often accompanies weaker phases of a market cycle rather than stronger ones.