Litecoin has successfully completed over
300 million transactions and its futures contracts have launched on Coinbase Derivatives. The cryptocurrency has now announced its identity as a
meme coin, which led to a sharp increase in price. In the recent years, Litecoin has significantly grown, doubling its volume over the past year. Despite this, signals suggest tough times might be ahead for Litecoin.\n\nIn comparison to other coins, Litecoin maintains characteristics similar to that of digital silver.
Short-term Litecoin holders are reportedly signaling a possible LTC price bottom or spike as activity surges.
Litecoin miners have recently purchased $18M of LTC, predicting a $150 breakout. Additionally, Litecoin whales have invested $950M in a 73-day buying streak amid rumors of an LTC Exchange Traded Fund (ETF) approval.\n\n
Litecoin's ETF approval chances are being closely observed, as its affirmative confirmation could influence future price trajectory. Canary Capital Group recently filed for the first Litecoin ETF. The rising demand from short-term holders is pushing Litecoin towards a bullish price breakout.
Litecoin’s on-chain volume is also significantly high equating to $4 billion, contributing to expectations of a price spike.\n\nHowever, there has been a recent shift in funds from wary LTC investors towards utility-focused brands like Binance Coin and Lunex Network. There are concerns about whether Litecoin can sustain its meme coin status. Meanwhile, despite DOGE and LTC rally, whales are accumulating another altcoin set to grow by 50x.
LTC Coin News Analytics from Sat, 19 Jun 2021 07:00:00 GMT to Mon, 06 Jan 2025 12:20:57 GMT -
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