{"id":510665,"date":"2022-11-30T19:00:35","date_gmt":"2022-12-01T00:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=510665"},"modified":"2022-11-30T11:27:04","modified_gmt":"2022-11-30T16:27:04","slug":"litecoin-whale-withdraws-65-5m-ltc-binance-bullish","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/litecoin\/litecoin-whale-withdraws-65-5m-ltc-binance-bullish\/","title":{"rendered":"Litecoin Whale Withdraws $65.5M In LTC From Binance, Bullish Sign?"},"content":{"rendered":"

Data shows a Litecoin whale has withdrawn $65.5 million in LTC from the crypto exchange Binance, a sign that may prove to be bullish for the price of the coin.<\/p>\n

A Litecoin Whale Has Taken Out 835.8k LTC From Binance<\/h2>\n

As per data from the crypto transaction tracker service Whale Alert<\/a>, two large LTC transfers have been spotted on the chain during the past day.<\/p>\n

The first of these Litecoin transactions involved the movement of 73,794 LTC, worth just under $5.8 million at the time of the transfer.<\/p>\n

Massive transfers like these usually belong to a single whale<\/a>, or an entity made up of multiple investors. Depending on the intent behind them, such transactions may have noticeable impacts on the market.<\/p>\n

Here are some additional details about the transfer that might shed some light on why it was made:<\/p>\n

\"Litecoin<\/p>\n

Looks like the sender had to pay a negligible fee of  0.00004518 LTC for the coins to go through | Source: Whale Alert<\/a><\/pre>\n

As you can see above, the sending address in this case was attached to a wallet associated with the crypto exchange Binance, while the receiver was an unknown address.<\/p>\n

Related Reading: Litecoin Price Prediction: Why LTC Could Hit $100 and Outperform Bitcoin<\/a><\/div>\n

Unknown addresses like these are usually personal wallets, and are unaffiliated with any known centralized platform.<\/p>\n

The second Litecoin transaction saw a whopping 762,073 LTC move on the chain, equivalent to $59.8 million according to the exchange rate at the time of the transfer.<\/p>\n

Below are the details regarding this transaction.<\/p>\n

\"Litecoin<\/p>\n

This massive transfer seems to have taken only $0.02 in fees to be possible | Source: Whale Alert<\/a><\/pre>\n

It looks like this transaction also went from the crypto exchange Binance to an unknown wallet, much like the other transfer.<\/p>\n

Related Reading: Klaytn (KLAY) and Litecoin (LTC) Gains Will Be Short Lived! Experts Pick Snowfall Protocol (SNW) As The Next 1000x Gainer!<\/a><\/div>\n

In fact, both these transactions involved the same sending and receiving addresses, implying the same whale might be behind both of these.<\/p>\n

Transfers where coins exit the centralized custody of exchanges are called “exchange outflows<\/a>.” Usually, investors withdraw their coins from these platforms for accumulation purposes.<\/p>\n

Hence, large outflows like the ones observed during the past day can be a sign that whales are accumulating, and can therefore be bullish for the price of Litecoin.<\/p>\n

LTC Price<\/h2>\n

At the time of writing, Litecoin’s price<\/a> floats around $77.5, down 1% in the last week. Over the past month, the crypto has gained 37% in value.<\/p>\n

The below chart displays the trend in the price of the coin over the last five days.<\/p>\n

\"Litecoin<\/p>\n

LTC has been climbing up during the last couple of days after the plunge to $70 | Source: LTCUSD on TradingView<\/a><\/pre>\n
Featured image from James Lee on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"

Data shows a Litecoin whale has withdrawn $65.5 million in LTC from the crypto exchange Binance, a sign that may prove to be bullish for the price of the coin. A Litecoin Whale Has Taken Out 835.8k LTC From Binance As per data from the crypto transaction tracker service Whale Alert, two large LTC transfers have been spotted on the chain during the past day. The first of these Litecoin transactions involved the movement of 73,794 LTC, worth just under $5.8 million at the time of the transfer. Massive transfers like these usually belong to a single whale, or an entity made up of multiple investors. Depending on the intent behind them, such transactions may have noticeable impacts on the market. Here are some additional details about the transfer that might shed some light on why it was made: Looks like the sender had to pay a negligible fee of 0.00004518 LTC for the coins to go through | Source: Whale Alert As you can see above, the sending address in this case was attached to a wallet associated with the crypto exchange Binance, while the receiver was an unknown address. Related Reading: Litecoin Price Prediction: Why LTC Could Hit $100 and Outperform Bitcoin Unknown addresses like these are usually personal wallets, and are unaffiliated with any known centralized platform. The second Litecoin transaction saw a whopping 762,073 LTC move on the chain, equivalent to $59.8 million according to the exchange rate at the time of the transfer. Below are the details regarding this transaction. This massive transfer seems to have taken only $0.02 in fees to be possible | Source: Whale Alert It looks like this transaction also went from the crypto exchange Binance to an unknown wallet, much like the other transfer. Related Reading: Klaytn (KLAY) and Litecoin (LTC) Gains Will Be Short Lived! Experts Pick Snowfall Protocol (SNW) As The Next 1000x Gainer! In fact, both these transactions involved the same sending and receiving addresses, implying the same whale might be behind both of these. Transfers where coins exit the centralized custody of exchanges are called “exchange outflows.” Usually, investors withdraw their coins from these platforms for accumulation purposes. Hence, large outflows like the ones observed during the past day can be a sign that whales are accumulating, and can therefore be bullish for the price of Litecoin. LTC Price At the time of writing, Litecoin’s price floats around $77.5, down 1% in the last week. Over the past month, the crypto has gained 37% in value. The below chart displays the trend in the price of the coin over the last five days. LTC has been climbing up during the last couple of days after the plunge to $70 | Source: LTCUSD on TradingView Featured image from James Lee on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":510678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16897],"tags":[10768,87393,10,87611,87620,2828,2831],"class_list":["post-510665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-binance","tag-crypto-exchange-binance","tag-litecoin","tag-litecoin-bullish-signal","tag-litecoin-whales","tag-ltc","tag-ltcusd"],"acf":[],"yoast_head":"\nLitecoin Whale Withdraws $65.5M In LTC From Binance, Bullish Sign?<\/title>\n<meta name=\"description\" content=\"Data shows a Litecoin whale has withdrawn $65.5 million in LTC 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Litecoin Whale Withdraws $65.5M In LTC From Binance, Bullish Sign?","url":"http:\/\/wncen.com\/news\/litecoin\/litecoin-whale-withdraws-65-5m-ltc-binance-bullish\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/litecoin\/litecoin-whale-withdraws-65-5m-ltc-binance-bullish\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/james-lee-Ko5beVbNlkM-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/james-lee-Ko5beVbNlkM-unsplash-scaled.jpg?fit=2560%2C954"},"articleSection":"Litecoin","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["binance","crypto exchange binance","litecoin","litecoin bullish signal","litecoin whales","ltc","ltc\/usd"],"dateCreated":"2022-12-01T00:00:35Z","datePublished":"2022-12-01T00:00:35Z","dateModified":"2022-12-01T00:00:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Litecoin Whale Withdraws $65.5M In LTC From Binance, Bullish Sign?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/litecoin\\\/litecoin-whale-withdraws-65-5m-ltc-binance-bullish\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/litecoin\\\/litecoin-whale-withdraws-65-5m-ltc-binance-bullish\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/james-lee-Ko5beVbNlkM-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/james-lee-Ko5beVbNlkM-unsplash-scaled.jpg?fit=2560%2C954\"},\"articleSection\":\"Litecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"binance\",\"crypto exchange binance\",\"litecoin\",\"litecoin bullish signal\",\"litecoin whales\",\"ltc\",\"ltc\\\/usd\"],\"dateCreated\":\"2022-12-01T00:00:35Z\",\"datePublished\":\"2022-12-01T00:00:35Z\",\"dateModified\":\"2022-12-01T00:00:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/james-lee-Ko5beVbNlkM-unsplash-scaled.jpg?fit=2560%2C954","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/510665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=510665"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/510665\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/510678"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=510665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=510665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=510665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}