Litecoin (LTC), also often referred to as the 'silver' to Bitcoin's 'gold', is showing bullish tendencies lately. Traders are predicting the coin to hold its $100 support, with $10M of leverage deployed. Key players in this upward movement include short-term LTC holders who are believed to be catalysts for the coin's future growth. LTC has recently been associated with the term 'Meme Coin', which seemed to have sparked a sudden price increase. Further triggering positive predictions, high on-chain activity suggests a potential Litecoin price leap to $180. Combined with the fact that BIT Mining tripled its profits mining
LTC and Dogecoin instead of solely focusing on Bitcoin, we see established interest and support for this altcoin. An interesting trend was found where in moments of high trading and on-chain activity, short-term Litecoin holders signal possible price bottoms or spikes. Blockchain analytics platform ChatGPT 4.0 even highlighted Litecoin as a potential 'hidden gem' to excel this Christmas season. Exposure for LTC became even broader when Canary Capital Group filed for the United States' first Litecoin ETF. The high transaction volume within 24-hours, recording $4B in Litecoin transactions, indicates the potential surge in crypto use as innovative coins like Cutoshi gain momentum. Despite the challenges, such as a failed breakout which caused a reversion to a critical $62 support level, the overall trend indicates a possible breakout and a bullish run for
LTC. Meanwhile, the approval of the Litecoin ETF continues to be speculated.
LTC Coin News Analytics from Wed, 21 Feb 2024 08:00:00 GMT to Tue, 10 Dec 2024 22:31:17 GMT -
Rating 7
- Innovation 6
- Information 8
- Rumor 5
