The Hashdex Nasdaq Crypto Index US ETF could see other cryptocurrencies added down the track, subject to all the necessary approvals.
On-chain data shows that Litecoin whales have been active recently, as the network has handled many large moves. Litecoin Large Transaction Volume Has Been At $2.85 Billion Recently According to data from the market intelligence platform IntoTheBlock, the Litecoin network has been witnessing some high activity from the whale entities recently. The on-chain indicator of […]
After a turbulent week for the crypto market, the drop in prices has left an opportunity for investors to enter new or double down on their various positions. Fortunately, the blockchain intelligence firm Santiment has identified some of the large-cap cryptocurrencies to consider. These Cryptocurrencies Are In The Opportunity Zone: Santiment Santiment revealed via a post on the X platform has provided an interesting outlook on the crypto market, stating that some digital assets are showing “buy the dip” opportunities. This is based on their Market Value to Realized Value (MVRV) ratios, which measure the average profit/loss of all coins in circulation according to the current price. An MVRV ratio value greater than 1 indicates that the investors of a coin are holding a net amount of profits at the time. On the other hand, when the value of the metric is less than 1, it means that most investors of the particular crypto are carrying losses. Meanwhile, an MVRV ratio of 1 means that the unrealized profit on a blockchain is equal to the unrealized profit. Related Reading: Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins Typically, corrections are believed to be more likely when profits are high, as investors are more inclined to sell as their gains grow. On the flip side, crypto holders are likely to refrain from dumping assets when they are in the red, leading to the formation of price bottoms. This forms the rationale behind Santiment’s Opportunity and Danger Zone investment analysis. In its recent post on X, Santiment mentioned that all notable large-cap crypto assets (except Toncoin) are in the buying opportunity in the short term. As shown in the chart below, the 30-day Market Value to Realized Value ratio of these assets is deep in the negative, implying there is less risk attached to investing in them at the moment. According to Santiment’s data, Dogecoin (DOGE) — with an MVRV ratio of –19.7% — has the best “buy the dip” potential. It is followed by Uniswap’s governance token UNI, with a Market Value to Realized Value ratio of –16.3%. To round up the top three is Litecoin (LTC), which bears an MVRV ratio of –15%. Bitcoin, the largest cryptocurrency by market cap, is amongst the mentioned assets within the opportunity zone. Having undergone a steep correction in the past week, the MVRV indicator is signaling that the premier cryptocurrency might have bottomed out and could be preparing for a move to the upside. Crypto Market On A Downturn The crypto market suffered a massive decline over the past week, with the total market capitalization falling by nearly 8%. This market downturn seems even deeper on bigger timeframes. For instance, in the last 30 days, the digital market has shed more than 21.5% of its value. Related Reading: Shiba Inu Sees Sharp 100% Decline In Whale Activity, Is This Good Or Bad For Price? Featured image from Shutterstock, chart from TradingView
Litecoin is rising, days after plunging to fresh Q2 2024 lows of around $70 in June. At the back of this resurgence is the surge in Ordinal inscriptions. Over 25 Million Ordinals Inscribed On Litecoin According to Litecoin, over 25 million ordinals have been inscribed on the proof-of-work network as of June 27. Of note, […]
On-chain data shows a Litecoin whale has withdrawn around $20 million in LTC from Binance, which could be bullish for the asset’s price. Litecoin Whale Has Just Made A Large Outflow From Binance According to data from the cryptocurrency transaction tracker service Whale Alert, a massive transfer has been spotted on the Litecoin blockchain during […]
The price of Litecoin (LTC) has had a disappointing performance in the second quarter of 2024, despite making a positive start to the year. The cryptocurrency has been facing significant bearish pressure in the past day, with its price falling by nearly 5% in a single move. Despite LTC’s apparent struggles in terms of price action, its network has witnessed remarkable growth in recent weeks. LTC Addresses Spike By 75% In A Single Day According to data from the on-chain analytics firm IntoTheBlock, activity on the Litecoin blockchain has been on the rise lately. On Thursday, June 8th, the number of active addresses on the network surged by over 75% to claim above 600,000. Related Reading: Is A Bitcoin Crash Below $50,000 Still Possible? Crypto Analyst Shares The Possibilities IntoTheBlock revealed – via a post on the X platform – that this latest spike in addresses pushed the Litecoin network to a new high since January. This suggests increased interest in the LTC blockchain despite its coin’s price struggles. When the number of addresses with a balance increases, it implies the entry of fresh investors or the return of old owners to a blockchain (Litecoin, in this case). It is often a strong indication of net adoption or rising faith in a particular network. Interestingly, the crypto intelligence firm highlighted that this recent growth spurt has propelled Litecoin ahead of the smart contract platform Ethereum in terms of active addresses. The network is well ahead of Ethereum by at least 100,000 addresses, according to IntoTheBlock. The number of active addresses is not the only area in which Litecoin has seen growth in the past day. The volume of transactions also experienced a significant increase. According to IntoTheBlock’s data, the number of LTC transactions surpassed 426,000 on Thursday. The on-chain analytics platform noted: While most of the increase is due to transactions smaller than $10, there is a noticeable rise in transactions of all sizes. Impact On Litecoin Price Strong fundamentals and network growth have been known to drive the price of crypto assets in many scenarios. In simple terms, an increase in network activity and users often translates to an increase in the network’s valuation. Related Reading: Injective (INJ) Price Set To Skyrocket 33% On Classic Bullish Signal: Crypto Analyst However, the impact of network fundamentals on asset prices is never straightforward. In Litecoin’s case, there has been no significant positive development in its price since the latest on-chain revelation. As of this writing, the price of LTC stands around $80.28, reflecting a 4.5% decline in the past day. Featured image from Getty, chart from TradingView
On-chain data shows the Litecoin whales have gone on a $230 million buying spree recently, which could bring bullish winds for the coin. Litecoin Whales Have Been Making Net Inflows To Their Wallets Recently According to data from the market intelligence platform IntoTheBlock, the Litecoin whales have received large net inflows in their addresses over the past month or so. The on-chain indicator relevant here is the “Large Holders Netflow,” which tracks the net amount of Bitcoin entering into or moving out of the combined wallets of investors owning at least 1% of the cryptocurrency’s circulating supply. Related Reading: Bitcoin “Profit-Taking Has Completed,” Top Analyst Reveals IntoTheBlock defines such “large holders” as the whale entities of the asset. Whales are generally considered to be influential beings on the network, owing to their ability to move large amounts on the network in a short span of time. When the Large Holders Netflow has a positive value, it means that these humongous investors are receiving a net amount of coins into their balance right now. Naturally, such buying can be bullish for the coin’s price. On the other hand, the negative indicator implies the whales are potentially participating in selling currently, which could have bearish consequences for the asset. Now, here is a chart that shows the trend in the Litecoin Large Holders Netflow over the past month: The value of the metric seems to have been positive in recent days | Source: IntoTheBlock on X As displayed in the above graph, the Litecoin Large Holders Netflow has mostly observed positive values inside this window, suggesting that the whales’ wallets have been receiving net deposits. According to the analytics firm, these large holders have accumulated 2,751,633 LTC in the last 30 days. At the current exchange rate of the asset, this stack is worth a whopping $230 million. As the chart also shows, the indicator spiked particularly strongly on the 10th of this month. During these net inflows alone, the whales bought 900,000 LTC, the highest daily amount since February, representing around one-third of the total accumulation in the past month. Related Reading: Chainlink Becomes Crypto Winner With 21% Rally: What’s Driving This? This buying spree from the large holders has come as the asset’s price has been consolidating around its lows following the mid-April crash. Thus, it would imply the whales believe the recent prices of Litecoin to have been worthy entry points into the coin. This could certainly be a bullish sign for the cryptocurrency, so it remains to be seen how the asset’s price will develop in the near future. The indicator may be worth monitoring, though, as its value turning negative could instead spell a bearish outcome for the coin. LTC Price Litecoin has continued to consolidate inside its range recently as its price is currently trading around $84. Looks like the price of the asset has been trading sideways over the last few weeks | Source: LTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, IntoTheBlock.com, chart from TradingView.com
Litecoin price is recovering higher from the $75.00 zone against the US Dollar. LTC could continue to rise if it clears the $84.00 resistance zone. Litecoin is showing positive signs from the $75 support zone against the US Dollar. The price is now trading below $85 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance at $83.00 on the 4-hour chart of the LTC/USD pair (data feed from Kraken). The price could gain bullish momentum if it clears the $83-$84 resistance zone. Litecoin Price Aims Higher After a steady decline, Litecoin found support near the $75.00 resistance zone, like Bitcoin and Ethereum. LTC price started a recovery wave above the $78.00 and $80.00 resistance levels. It even cleared the 50% Fib retracement level of the downward move from the $88.49 swing high to the $74.59 low. The bulls even pumped the price above $82.00, but the bears were active near the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance at $83.00 on the 4-hour chart of the LTC/USD pair. Litecoin is now trading below $85 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $83.00 zone or the 61.8% Fib retracement level of the downward move from the $88.49 swing high to the $74.59 low. The next major resistance is near the $84 level. If there is a clear break above the $84 resistance, the price could start another strong increase. Source: LTCUSD on TradingView.com In the stated case, the price is likely to continue higher toward the $88.50 and $90.00 levels. Any more gains might send LTC’s price toward the $95.00 resistance zone. Are Dips Supported in LTC? If Litecoin price fails to clear the $84 resistance level, there could be a downside correction. Initial support on the downside is near the $80.00 level. The next major support is forming near the $77.80 level, below which there is a risk of a move toward the $75.00 support. Any further losses may perhaps send the price toward the $70.00 support. Technical indicators: 4-hour MACD – The MACD is now gaining pace in the bullish zone. 4-hour RSI (Relative Strength Index) – The RSI for LTC/USD is above the 65 level. Major Support Levels – $80.00 followed by $77.80. Major Resistance Levels – $83.00 and $84.00.
Litecoin (LTC) defied the overall sluggishness of Proof-of-Work (PoW) coins this week, climbing 4% to a two-week high of $86 on April 26. This surge has rattled short sellers and ignited a potential short squeeze, with analysts predicting a bullish run towards the $100 mark. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Litecoin Bulls Flex Their Muscle While other cryptocurrencies have struggled to gain momentum this week, Litecoin bulls have managed to push slightly ahead. This unexpected rally has added a significant $190 million to Litecoin’s market capitalization, showcasing a renewed investor interest in the digital silver. Market watchers attribute the surge to a confluence of factors. Firstly, a significant number of traders are betting big on Litecoin’s continued rise, evident in the overwhelming leverage applied in the derivatives market. Data from Coinglass reveals a bullish sentiment, with the value of long leveraged positions exceeding shorts by a notable margin. This optimistic outlook places immense pressure on short sellers, who stand to incur heavy losses if the price keeps climbing. Source: Coinglass Short Squeeze Looms As Price Eyes $100 The current price action suggests that a short squeeze might be brewing. Short sellers borrow LTC tokens, sell them at a higher price in anticipation of buying them back later at a lower price to pocket the difference. However, if the price goes up instead of down, they are forced to buy back LTC at a loss to cover their positions. This buying activity to mitigate losses further pushes the price up, creating a snowball effect. LTC is currently trading at $84.42. Chart: TradingView Analysts estimate that a mere 10% price increase, propelling LTC to $96, could trigger liquidations worth $16 million for short sellers. Conversely, bullish traders have amassed leveraged long positions exceeding $16 million around the current price point. This leverage disparity empowers the bulls to potentially drive the price towards the coveted $100 milestone in the coming days. Related Reading: The Machines Know: Bitcoin Primed For Epic Price Surge To $77,000 Volatility Ahead: A Word Of Caution While the short-term outlook for Litecoin appears optimistic, experts advise caution. The current rally seems primarily driven by speculation and leveraged trading, not necessarily by fundamental advancements within the Litecoin ecosystem. This dependence on market sentiment makes the price susceptible to swings. If the bullish momentum fizzles out, a price correction could trigger significant liquidations of overleveraged long positions, causing a reversal. The coming days will be crucial in determining whether the bulls can maintain control and propel LTC to $100, or if the bears regroup and trigger a reversal of fortunes. Featured image from Pexels, chart from TradingView
The exchange is optimizing operations after acquiring ErisX on the eve of crypto winter and expects to save millions.
On-chain data shows that Litecoin’s long-term holders have achieved a new record: 62.5% of all LTC investors now qualify as these HODLers. There Are Now More Than Five Million Litecoin Long-Term Holders According to data from the market intelligence platform IntoTheBlock, the LTC network recently reached a new milestone in terms of its long-term holder […]
Litecoin price is up over 10% and trading above $105 against the US Dollar. LTC could continue to rise toward the $120 resistance zone in the near term. Litecoin is showing positive signs from the $95 support zone against the US Dollar. The price is now trading above $105 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $101.50 on the 4-hour chart of the LTC/USD pair (data feed from Kraken). The price could continue to rise toward the $120 level unless it breaks the $100 support. Litecoin Price Gains Bullish Momentum In the past couple of days, Litecoin gained pace and outperformed Bitcoin and Ethereum. LTC price formed a base above the $80 level and started a decent increase. There was a break above the $88 and $95 resistance levels. The bulls even pushed the price above $100. There was a clear move above the 76.4% Fib retracement level of the downward move from the $105.71 swing high to the $77.00 low. A new multi-week high was formed at $112.49 and the price is now consolidating gains. top near $68.40 before it started a fresh decline. Litecoin is now trading above $10 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $101.50 on the 4-hour chart of the LTC/USD pair. On the upside, immediate resistance is near the $112.50 zone. It is near the 1.236 Fib extension level of the downward move from the $105.71 swing high to the $77.00 low. The next major resistance is near the $115 level. If there is a clear break above the $115 resistance, the price could start another strong increase. Source: LTCUSD on TradingView.com In the stated case, the price is likely to continue higher toward the $120 and $122 levels. Any more gains might send LTC’s price toward the $132 resistance zone. Are Dips Supported in LTC? If Litecoin price fails to clear the $105 resistance level, there could be a downside correction. Initial support on the downside is near the $105 level. The next major support is forming near the $100 level, below which there is a risk of a move toward the $95 support. Any further losses may perhaps send the price toward the $88 support. Technical indicators: 4-hour MACD – The MACD is now gaining pace in the bullish zone. 4-hour RSI (Relative Strength Index) – The RSI for LTC/USD is above the 65 level. Major Support Levels – $105 followed by $100. Major Resistance Levels – $115 and $120.
Litecoin (LTC), the “silver” to Bitcoin’s “gold,” has surged in recent weeks, buoyed by a combination of technical factors, strong investor interest, and strategic accumulation by miners. The LTC price jumped 12% in the past 24 hours, reaching $106.40. This uptick follows a 40% year-to-date gain, with most of the growth concentrated in the last week. Daily trading volume has also skyrocketed by 175%, indicating a significant influx of investors into the Litecoin market. Will April Be A Good Month For Litecoin? Analysts are particularly excited by a potential breakout from a multi-year downtrend. If LTC can maintain its position above $94, some believe it could usher in a new era of sustained growth. A decisive break and hold above the $122 resistance level could trigger further gains, with some analysts predicting a surge towards $150 or even higher. This price pattern mirrors a successful breakout observed in 2020/2021, adding fuel to the bullish fire. Related Reading: From $90 To $400 Litecoin: Analysts Bullish On LTC Soaring Trajectory Popular crypto analyst Rekt Capital has also chimed in, noting the historical significance of similar price breakouts for LTC. He believes a successful retest of the downtrend and subsequent establishment of support could be indicative of a promising uptrend for the cryptocurrency. Miners Fueling The Rally One of the key drivers behind the recent surge is the behavior of Litecoin miners. Data from IntoTheBlock reveals that miners have been accumulating LTC at a healthy pace throughout March. They’ve added a whopping 150,000 LTC to their reserves, bringing their total holdings to 2.2 million. This accumulation strategy reduces the selling pressure of newly minted coins and signals the miners’ confidence in the future price trajectory of LTC. Total crypto market cap is currently at $2.573 trillion. Chart: TradingView Open Interest On The Rise The prevailing bullish sentiment finds reinforcement in the remarkable surge in open interest on Litecoin (LTC) futures contracts. Latest data shows a staggering 45% increase in open interest, signaling a growing optimism among traders regarding the coin’s future trajectory. This surge in open interest not only reflects heightened confidence in LTC’s potential but also underscores traders’ readiness to explore new positions or bolster existing ones. Such a robust increase in open interest amplifies the potential for sustained growth, as market participants eagerly position themselves to capitalize on anticipated bullish movements in LTC’s value. Related Reading: Bullish Winds Blow: Bitcoin Bull Flag Points To New $77,000 ATH: Analyst The Road Ahead Litecoin could be headed to a strong April performance, with strong technical indicators and bullish sentiment driving the current rally. However, responsible investors should always conduct their own research and exercise caution when navigating the ever-turbulent world of cryptocurrency. Featured image from Pixabay, chart from TradingView
On-chain data shows the Litecoin network has achieved another major milestone recently as total LTC holders now exceed 8 million. Litecoin Has Observed Significant Adoption Over The Past Year As pointed out by Litecoin Foundation Director of Marketing Jay Milla in a post on X, the total number of LTC addresses with a balance has […]
The legal battle between the United States Securities and Exchange Commission (SEC) and Ethereum (ETH) has transformed into an intriguing case within the entire cryptocurrency landscape, with several experts predicting possible outcomes regarding the dispute. Ripple CEO Warns US SEC’s Inevitable Defeat Against Ethereum As the battle wages on, the Chief Executive Officer (CEO) of […]