Litecoin's major investors, commonly known as whales, experienced their highest daily inflow of funds since February on May 10.

During this prolonged reaccumulation period, Litecoin's prominent investors have joined the trend, displaying active involvement.

Insights from IntoTheBlock, a crypto market analysis platform, revealed that over the past 30 days, the largest investors in LTC have amassed more than 2.75 million Litecoins, signaling substantial engagement.

Litecoin Whales Amass 2.7M LTC

IntoTheBlock's tweet unveiled that addresses associated with Litecoin whales observed their most substantial daily inflow since February earlier this month. On May 10, these whales transferred over 900,000 LTC, valued at approximately $74.7 million, into their wallets.

With whales accumulating 2,751,633 LTC in total, their collective LTC holdings have surged by more than $228 million at the current market prices.

However, this ongoing accumulation frenzy has had minimal impact on LTC's price trajectory. The cryptocurrency has remained within the $80 to $86 range over the past month, even dropping to $76 at one point. At present, data from CoinMarketCap indicates that LTC is valued at $83.36, with marginal fluctuations in the past 24 hours and 30 days.

Remarkable Activity in Litecoin

Litecoin's recent developments follow the launch of a cash-settled futures contract product by Coinbase, the largest American cryptocurrency exchange, for the Litecoin network, alongside similar offerings for Dogecoin and Bitcoin Cash.

In early March, the crypto trading platform announced the launch of futures trading products, scheduled to go live on April 1. Coinbase utilized the self-certification approach to introduce these contracts, ensuring compliance with regulatory guidelines outlined by the U.S. Commodity Futures Trading Commission.

Since the Litecoin halving event ten months ago, the network has witnessed a notable surge in transaction volume and active addresses. Following the halving, the number of long-term LTC holders doubled, surpassing five million, indicating growing confidence in the cryptocurrency amid market challenges.

In December, Litecoin experienced a record high in active addresses, surpassing 1.4 million. This surge in active addresses also contributed to an increase in Litecoin wallets holding a balance.

Additionally, Litecoin has witnessed significant development with the introduction of the LTC-20 token standard, leveraging the network's Ordinals Protocol.