Litecoin rises above $100 for the first time since May 2022

Litecoin (LTC) has been trading below $100 for the past ten months. For the first time since the beginning of May, the LTC rate has strengthened to $100.22. After the crash of the FTX exchange, the value of LTC increased by 80%. The Santiment team points to increasing support for litecoin from large wallets that control between 100 and 10,000 coins. Within two months of the FTX bankruptcy, these investors, or the so-called sharks, increased their holdings by another 0.5% of the LTC supply. Almost 25% of the total cryptocurrency turnover is now under the control of sharks, analysts emphasized.