Can the LTC community explain the mass of fan-out, fan-in transaction going on on LTC? https://blockchair.com/litecoin/transactions?s=input_count(desc)&q=time(2021-10-15%2000:00:00..)#f=hash,block_id,input_count,output_count,time,output_total
scroll down to those 500:1, there are mass of those transactions each day.
Then sort by output_count and repeat the scroll
Add: then take a look at any address involved, like https://blockchair.com/litecoin/address/LTRtAbzT3ecWJ82kUcYv28Bo2hzZGRJSBG
Scroll. $0.01 cent pushed around, going on for months.
Senders:500 Recipients:1
Senders:1 Recipients:1001
That I call bullshit, until some explanation who and why is doing that.
Coinbase was charged and fined $6.5 million dollars for washtrading by their employee at the time, likely Charlie Lee the creator of Litecoin. It seems this is his goto strategy to pump his coin: https://www.cftc.gov/PressRoom/PressReleases/8369-21
Edit: I saw u/homopit post this info but not sure who the original author is.
submitted by /u/Oscuridad_mi_amigo
[link] [comments]for further reading…