Bitcoin‘s market shows signs of stabilization as it recovers from a recent drop and holds above $50,000. Concurrently, LPT Coin has surged by over 155% within a span of three days, outshining the leading cryptocurrency’s performance.
Whale Activity Shakes LPT Coin Market
A notable LPT Coin investor has reacted to the token’s price increase by moving a large quantity of coins, as Lookonchain reported. This entity relocated 100,000 LPT to an exchange, subsequently withdrawing 65,000, which suggests a sale of 35,000 LPT. Despite this, the whale still retains a substantial amount of LPT, valued at nearly $3.93 million, with profits surpassing $3.5 million.
Prospects for LPT Coin’s Value
Despite retracting from a high of $20.9, LPT Coin continues to trade robustly at $18.5, significantly higher than its valuation in mid-June 2023. The digital currency’s value has been buoyant since February 16, marked by an 86% jump in a single day. Presently, LPT Coin is one of the most profitable assets on Binance, with the potential to retest the $20.9 threshold.
The weekly analysis indicates that LPT Coin, after a 644-day hiatus, could be poised to break a long-term downward trend. Should this momentum be maintained, the coin could target higher levels at $25.19 and $29.25. However, LPT Coin’s current market position is fragile, with minimal support down to $10.8, a concern for investors should a downturn occur.
