Litecoin's share of the global payments jumped from 23% in March to a little over 34% by the end of July.
to grab the numero uno spot for the first time in history. However, LTC’s growth trajectory has since plateaued, and it ceded the first position to BTC.Much of the growth was powered by the parabolic rise in transactions in the May-June period. According to Glassnode, LTC’s transactions count reached levels comparable to Bitcoin’s daily tally on several occasions during this phase.
Initially, the excitement over Litecoin’s scarcity dampened as the token plunged 10% within days of halving. The bigger decline came during the Bitcoin-led market bloodbath, when the token tanked 24%, as shown byWhales began to accumulate Sensing the impending price drop, Litecoin whales liquidated their holdings just in time. However, as the market began to move sideways, these big investors began to add to their stacks.As per data from Santiment, addresses storing between 1,000-10,0000 tokens increased sharply over the past week. The cohort holding between 10,000-100,000 LTCs exhibited a similar behavior. This indicated that whales were optimistic of a bull run in near future.
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