Crypto News: Litecoin Accumulation, Metaplanet Buys BTC, TRUMP Token Whale Action

Litecoin Shows Signs of Long-Term Holder Accumulation

Litecoin (LTC) market activity shows interesting trends. On-chain data indicates potential re-accumulation by holders. Crypto analytics firm IntoTheBlock highlighted this. They pointed to rising Unspent Transaction Outputs (UTXOs). UTXOs represent unspent coins after transactions.

The analysis focuses on UTXOs older than five months. These typically represent long-term holders (LTHs). The percentage of LTC held by LTHs is increasing. This pattern mirrors accumulation phases seen 3-5 years ago. LTHs seem to be holding despite market volatility. This resilience can reduce available supply. It potentially supports future price increases.

Litecoin’s price recently saw upward pressure. However, it experienced a 3.1% drop today. The price currently sits at $81.62. Despite the dip, LTC showed weekly gains (9.0%). Litecoin Open Interest (OI) in derivatives rose 4.11%. This suggests traders are optimistic about future price action. They are paying premiums to hold futures positions.

Metaplanet Continues Aggressive Bitcoin Purchases

Tokyo-based investment firm Metaplanet made headlines again. The company purchased an additional 145 Bitcoin (BTC). This transaction was worth ¥1.9 billion ($13.6 million). Metaplanet now holds over 5,000 BTC. This stash is valued at approximately $428 million.

This purchase is part of Metaplanet’s “21 Million Plan”. The plan aims to acquire 10,000 BTC by end of 2025. The long-term goal is 21,000 BTC by end of 2026. Metaplanet has now reached the halfway point for its 2025 target. The company bought over 1,650 BTC in April alone. This cost nearly $153 million. These purchases position Metaplanet among top corporate BTC holders.

CEO Simon Gerovich emphasized the company’s long-term focus. He stated they aim to lead Japan in global Bitcoin adoption. Metaplanet raised nearly $745 million since mid-2024. This aggressive strategy mirrors MicroStrategy in the US.

Bitcoin Spot ETFs See Renewed Inflows

US-listed Bitcoin Spot ETFs experienced positive momentum. They recorded five consecutive days of net inflows. This occurred between April 14th and April 22nd. Total inflows during this period reached $963.55 million. Data comes from tracking firm SoSoValue.

April 22nd saw the largest single-day inflow ($936.43M). Total net assets in Bitcoin ETFs hit a record $103.34 billion. Trading volume on that day was also high ($5.58 billion). This surge followed a period of volatility. Mid-April saw some net outflows from the ETFs. However, no outflows occurred after April 16th. This signals renewed investor confidence and institutional participation.

TRUMP Token Whale Activity Increases

The meme coin sector saw significant whale action. On-chain data showed large purchases of Official Trump (TRUMP) token. One whale spent $3.58 million USDC to buy 278,196 TRUMP. The purchase price was $12.89 per token. The whale deposited these tokens into the OKX exchange.

This activity follows other recent large TRUMP buys. It seems linked to the “TRUMP Dinner” announcement. The US President announced special dinners for top TRUMP token holders. This news caused the token price to surge over 70% previously. Whales appear to be accumulating ahead of the May 22nd event. TRUMP token price jumped 28.2% today to $12.48. This highlights how political event influence impacts specific meme coins.