A bullish trend in Litecoin (LTC) had strengthened in July, with its price reaching as high as $112 – the highest since April 2022.
Supporters of this trend had begun to predict that the price would go as high as $150 as the August halving date gets closer.
However, these plans were interrupted when large investors started selling in the first half of July.
A large cryptocurrency dump was organized by multiple addresses, controlling from 10,000 to 1 million LTC.
As a result, Litecoin prices dropped below $100. After the fall, whales began buying again, as the number of daily transactions of amounts over $100,000 rose to 200, with daily trades from $1 million sometimes exceeding 100.
In addition, the number of addresses with a non-zero balance on the Litecoin blockchain had grown from 7 million in May to 8.85 million by July 20.