Litecoin Price Soars After DOGE Marks Historic Growth
November 03 2022 - 11:23PM
NEWSBTC
Santiment reported that Litecoin is temporarily decoupled from the
crypto pack. Furthermore, whale addresses with over 1,000 LTC
increased rapidly from the middle of June. The LTC/BTC pair gained
over 51% since June 12. Memecoins have been in the limelight since
last week after Musk Completed the Twitter acquisition. Among the
memecoins, Dogecoin had the best performance, soaring above 100% in
the price rally to $0.15, a five-month all-time high. But, Dogecoin
has currently dropped to $0.1188. However, another altcoin,
Litecoin, picked up, taking the market limelight from DOGE. Price
analysis shows that Litecoin (LTC) increased by nearly 15% in the
last 24 hours to almost $63. Currently, LTC is trading at $62.77, a
13.61% increase with a market cap of $4.4 billion. Following
on-chain reports, there was a steady increase in LTC whale
addresses since May, after the crypto market correction. More so,
according to data from Santiment, LTC/BTC trading pairs have gained
25% in the past five months. Related Reading: Bitcoin Shocker:
Lightning Network Capacity Reaches 5,000 BTC What Influenced
Litecoin Price Boost? Over the years, cryptocurrencies have evolved
in adoption and use cases. Significant events and institutional
adoptions influence the price actions of digital assets, and
Litecoin is not an exception. Litecoin’s performance could be due
to the latest development in the crypto space. Recently, MoneyGram
listed the token as one of the cryptocurrencies its US and
Columbian consumers can trade and hold on its mobile platform.
Given that MoneyGram has a significant dominance in the global
remittance service industry, the listing of LTC might have
constituted a boost. Charlie Lee, the founder of Litecoin, shared
the news on his Twitter handle. He revealed his excitement over the
fact that users can buy Litecoin on the MoneyGram platform and
thanked Coinme for making it possible. The LTC founder added that
LTC is still alive as a note to haters. LTC Performance Out Look
And BTC Comparison According to analytics, the $64 mark may be
Litecoin’s resistance level. A break above $64 may result in a
further upwards rally. Litecoin has recovered all its three-month
losses with the recent gain. LTC has maintained the third rank by
market cap for a long time. Active for nine years, LTC has been
successful, except for the advent of bear markets. Related Reading:
Lightning Speed: 5 Ways To Make Money/ Earn Sats Using The
Lightning Network According to the 2022 price prediction for
Litecoin, the minimum cost of the token is $57.16, and the maximum
level is $62.79. The expected average trading price is around
$59.38. But LTC has managed to surpass these levels. Comparing
LTC performance with Bitcoin’s, the latter currently has a
market cap above $389 billion, while the former has over $4.413
billion. Meanwhile, Bitcoin is down by 0.86% in the last 24 hours,
trading above $20,000. featured Image from Pixabay, Charts by
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