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Lighter: Why LIT stalls below $2.70 despite $10M whale accumulation
['Lennox Gitonga', 'Written By', 'Reviewed By', 'Erastus Chami', 'Ritika Gupta', 'Gladys Makena']
AMBCrypto
Moreover, the supply zone at $2.70 remains a key barrier, capping any breakout attempts from this consolidation.
Whales building LIT positionsAs per Arkham, an Ethereum OG wallet with a $65 million portfolio has resumed LIT accumulation after days of silence.
ADThe whale’s total accumulated tokens have reached 4.277 million LIT, worth about $10 million, up from 1.70 million tokens last month.
According to Onchain Lens, their wallet sent 1.87 million LIT, worth $4.57 million, to a fresh wallet.
Notably, the bears at the $2.30-$2.70 supply zone have kept LIT in the discount area for a month.