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According to the data of the analytical company Santiment, the Litecoin (LTC) rate has been growing rapidly since the number of large addresses began to grow. The relevant indicator here is the "Litecoin supply distribution", which tells us how many addresses (or holders) belong to each group of wallets on the market currently
Addresses are placed in these groups of wallets depending on the total number of coins they currently hold. The supply distribution metric for this band will then measure the total number of such addresses currently present on the market.
Now in the current discussion, groups of wallets that have at least 1000 LTC are of interest. Since there is no upper bound here, all the residuals from this sum to infinity are added together. Here is a dynamics distribution diagram for these Litecoin address ranges:
As can be seen from the graph above, the indicator value for Litecoin addresses falling within this range has been growing since May 2022. Holders with 1,000 or more coins in their wallets are so—called "sharks" and "whales", so this upward trend means that the total number of large investors has been growing over the past few months.
More recently, the number of addresses of large holders reached the value of 4232 pcs, which is the highest value recorded in more than two years. The diagram also shows that although the number of these sharks and whales is increasing (and, consequently, their accumulation is taking place), the LTCBTC coefficient has increased by more than 130%.
Since this accumulation does not seem to have slowed down recently, it is possible that it could support further appreciation of Litecoin in 2023. It is also worth noting that the nearest LTC halving is scheduled for August next year and historically this event has a bullish effect on the asset rate.
