Litecoin Miners On Accumulation Spree—Is Something Brewing?

Mitrade
Trending Articles
coverImg
Source: DepositPhotos

On-chain data shows Litecoin miners have seen their reserves shoot up over the past year, a sign that the large pools have been accumulating.

Litecoin Miner Reserve Has Gone Up During The Last Year

In a new post on X, Litecoin Foundation has shared how the balance of the Litecoin miners has changed during the past year. The indicator of relevance here is the Miner Reserves from the institutional DeFi solutions provider Sentora (formerly IntoTheBlock).

The Miner Reserves metric measures the total amount of LTC that’s sitting in the wallets associated with the large mining pools. These holdings may include not just the amount that the validators have been receiving as mining rewards, but also the tokens that they have acquired through purchases.

Now, here is a chart that shows the trend in the Miner Reserves for Litecoin over the past year:

Litecoin Miner Reserves

As displayed in the above graph, the Litecoin Miner Reserves indicator has followed an upwards trajectory over the last twelve months, a sign that miners have been adding to their holdings.

Miners are entities that have constant running costs in the form of electricity bills, so it’s not unusual for them to participate in some selling in order to pay them off. Interestingly, however, the large mining pools have been willing to accumulate LTC lately.

Another metric that helps gauge the sentiment among the network validators is the Hashrate, which measures the total amount of computing power that they have attached to the blockchain.

Below is a chart from CoinWarz that shows the trend in this indicator for Litecoin.

Litecoin Hashrate

From the graph, it’s apparent that the Litecoin Hashrate has also gone up over the past year, implying miners have been adding more power to the network. Though, the timing of their expansions hasn’t exactly matched their accumulation spree.

Nonetheless, it remains true that both trends point to a bullish sentiment among the chain validators. It only remains to be seen, however, whether the conviction would pay off.

In some other news, Bitcoin miners may also be dropping their sell-side pressure, as CryptoQuant author IT Tech has pointed out in an X post.

Bitcoin Miner OTC

The above chart shows the data related to the balance of the over-the-counter (OTC) desks used by Bitcoin miners. Clearly, the metric has recently registered a significant decline. “This suggests limited miner liquidity available for institutional block deals, often a precursor to supply-side constraints,” notes the analyst.

LTC Price

At the time of writing, Litecoin is floating around $84, down over 2% in the last 24 hours.

Litecoin Price Chart

Read more

  • BNB Price Rebounds as Traders React to CZ’s Pardon — But One Roadblock Remains
  • BNB Price Rebounds as Traders React to CZ’s Pardon — But One Roadblock Remains
  • Gold declines as traders brace for trade talks, US CPI inflation data
  • * The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

    goTop
    quote
    Related Articles
    placeholder
    BNB Price Rebounds as Traders React to CZ’s Pardon — But One Roadblock RemainsBNB is up 4.4% in the past 24 hours, standing out as the only top-10 coin to post positive 30-day gains (+11%). The move follows Trump’s pardon of former Binance CEO Changpeng “CZ” Zhao.
    Author  Beincrypto
    Yesterday 09: 47
    BNB is up 4.4% in the past 24 hours, standing out as the only top-10 coin to post positive 30-day gains (+11%). The move follows Trump’s pardon of former Binance CEO Changpeng “CZ” Zhao.
    placeholder
    Bitcoin could see a sharp drop below $100,000 by weekend: Standard CharteredBitcoin (BTC) declined toward $107,000 on Wednesday, as Standard Chartered's Geoffrey Kendrick predicted an "inevitable" drop below $100,000.
    Author  FXStreet
    Oct 23, Thu
    Bitcoin (BTC) declined toward $107,000 on Wednesday, as Standard Chartered's Geoffrey Kendrick predicted an "inevitable" drop below $100,000.
    placeholder
    Analysts compare Bitcoin to the Soybean crash, predict sharp moves aheadAnalyst notes that the BTC price movement mirrors the Soybean price ahead of its 1977 crash, when it declined 50% in value.
    Author  FXStreet
    Oct 22, Wed
    Analyst notes that the BTC price movement mirrors the Soybean price ahead of its 1977 crash, when it declined 50% in value.
    placeholder
    Top 3 Price Prediction: BTC struggles below key resistance, ETH and XRP eye further weaknessBitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
    Author  FXStreet
    Oct 22, Wed
    Bitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
    placeholder
    BlackRock helping Bitcoin whales transition their holdings toward ETFsBlackRock is reportedly helping Bitcoin whales pivot to Wall Street by facilitating equal conversion of their coins to ETF shares.
    Author  FXStreet
    Oct 22, Wed
    BlackRock is reportedly helping Bitcoin whales pivot to Wall Street by facilitating equal conversion of their coins to ETF shares.
    Live Quotes
    Name / SymbolChart% Change / Price
    LTCUSD
    LTCUSD
    0.00%0.00

    cryptocurrency Related Articles

    • Trading Chart Patterns:Ultimate Guide to Price Action
    • How to Day Trade Crypto? Simplest Day Trading Strategy Ever
    • Places that Provide Cheapest Ways to Buy Bitcoin In 2025
    • 10 Best Crypto With Most Potential to Buy and invest in 2025 - Top Picks from Expert Traders
    • What is Starknet (STRK)? Value of Starknet Coin and Project Development
    • How To Buy Bitcoin In Malaysia? Top 7 Best Crypto Exchanges & Trading Apps

    Click to view more