Litecoin shows signs of life as whales continue to accumulate LTC


According to a Tweeter Released by on-chain and social metrics analytics firm, Santiment, Litecoin (LTC) is coming to life in the markets, rising 5% against Bitcoin (BTC) in the past two days.

Litecoin price

Santiment’s tweet pointed out that whale addresses holding between ten thousand and one million Litecoins were in a 15-week accumulation pattern, their longest since 2017. Together, these addresses added around 5% to the supply. of Litecoin in just 15 weeks.

Litecoin is currently priced at $137.80 and has a 24-hour trading volume of almost $980 million. The current crypto price shows an improvement of 3.75% in the last 24 hours. With a circulating supply of 69,403,257 coins, $LTC has an actual market capitalization of around $9.5 billion, making it the 22nd most valuable crypto in the world.

Litecoin bullish trend set to continue

While Litecoin has recently been in the doldrums When it comes to market activity, price predictions for crypto through 2022 and beyond have been generally positive. Late last year, market watchers predicted that Litecoin would reach at least $266 by the end of 2022 and even cross the $300 threshold by 2025. They noted that historically, the price of Litecoin tended not to correlate with the price of Bitcoin.

It is estimated that Litecoin could enter the top ten most valuable digital assets in the world by market capitalization in the next few years. According to analysts, Bitcoin has always been one of the first crypto assets to be incorporated into new ranges like Venmo and PayPal, which means that people will continue to trade $LTC due to its usefulness, thus maintaining the bullish trend of cryptography for the foreseeable future.

Bitcoin Experiments Price Rise

Meanwhile, in other news, after a disheartening start to 2022, Bitcoin finally reached its highest price in the last seven days. At the time of writing, the world’s most valuable crypto was trading at $43,786 after dropping below $40,000 a few days earlier. Despite making slight gains, the price of BTC is still down no less than 5% so far this year.

The Bitcoin and Litecoin price changes follow the US Department of Labor’s report showing that the Consumer Price Index (CPI), a key indicator of inflation, hit 7% in December this year. last, the highest since Ronald Reagan was President of the United States.

Like BTCMANAGER? Send us a tip!

Our Bitcoin address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4


Comments are closed.