Connect with us


12.3 million Litecoin [LTC] worth $380 million moved into new wallets by suspected whale




12.3 million Litecoin [LTC] worth $380 million moved into new wallets by suspected whale
Source: Unsplash

The Litecoin [LTC] network has witnessed 41 wallets containing an exact amount of 300,000 LTC each come into the rich list recently. The wallets, in total, hold a whopping 12.3 million LTC, which is 20.69% of the total coins in circulations.

The addresses seen on the rich list show deposits between November 30 to December 01, 2018, and the total amount of LTCs, comes to a net worth of $381.3 million, with $31 per LTC, at the time of transfer. These 41 wallets together hold 20.8% of the market cap for Litecoin.

As a result of this, the Litecoin Network witnessed more than 60% of its market cap moved in just one-day.

The movement of the funds points to three possibilities, the first being a whale buying the dip and splitting up the funds into multiple wallets. The second reason, which is more of a speculation, is that some institutional buyers are loading up their accounts ahead of the launch into the crypto verse. The last reason could be an exchange moving its users’ funds into cold storage wallets or just securing the funds.

As Franklyn Richards, the founding director of Litecoin Foundation pointed out it, could very well be an institution like Bakkt or Fidelity, but it is still a wild speculation.

A Twitter user, Samman, commented:

“I think I’ll go all in in LTC because it is better than BTC 1) better tech 2) no futures (wall street) less manipulation 3) bigger drop since all time high 4) more decentralized. Is anybody thinking like me ?”

Another user, Peter Tenaglia, commented:

“I wonder with all the BTC and LTC being moved has anything to do with the web bot report a couple years ago that mentioned a public display before a price explosion?”

Subscribe to AMBCrypto’s Newsletter

Follow us on Telegram | Twitter | Facebook

Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin Cash

Bitcoin Cash [BCH] rolls out iOS version of Bitcoin Cash Register

Rishi Raj



Source: Pixabay

Bitcoin Cash [BCH] recently made headlines when the CEO of, Roger Ver got involved in a bet of $10,000 with Tone Vays, a popular Bitcoin maximalist which the former lost. After launching a free point-of-scale solution, Bitcoin Cash Register for Android operating systems, and its developers have rolled out an iOS version of the same.

Bitcoin Cash register allows anyone with an Android or iOS device to accept BCH payments. This came as a part of the company’s agenda to promote the adoption of crypto in the mainstream. With the installment Bitcoin Cash Register, it would be easier for retailers to accept BCH as payment from customers.

As reported by, Bitcoin Cash Register claims to be easy to use without any prior account registration and the transactions are carried out in a non-custodial manner. This was confirmed by via a tweet:

The bet between Roger Ver and Tone Vays regarding the low transaction fee had left the social media divided, with proponents on both sides arguing about the authenticity of the bet and factors taken into consideration while betting.

Subscribe to AMBCrypto’s Newsletter

Continue Reading