In the midst of price uncertainty in the cryptocurrency market, data from on-chain analysis reveals that whales are actively buying Litecoin, a prominent digital currency.

These whales, characterized by holding between 10,000 and 100,000 LTC, have been accumulating Litecoin despite recent price drops.

One key indicator of this activity is the "Supply Distribution" chart, which illustrates the amount of Litecoin held by different wallet groups. Whales, who fall within the 10,000 to 100,000 LTC range, have been notably increasing their holdings.

The recent uptick in Litecoin Supply Distribution among these whale investors coincides with the downturn in LTC prices. This trend mirrors a similar pattern observed in April when whales capitalized on lower prices to accumulate Litecoin.

Should these influential investors continue to buy at their current levels, Litecoin may experience a rebound. However, if sentiment shifts and whales begin to sell, further price declines for the asset could ensue.

Despite a recent 0.66% price drop, Litecoin's market cap decreased by 0.75% to $6 billion. Nevertheless, there was a significant uptick in the 24-hour trading volume, which surged to $400 million.

This surge in trading activity positioned Litecoin as the 21st most exchanged cryptocurrency in the market, signaling continued interest in the digital asset.