Menu
  • Home
  • Cryptocurrency
  • Blockchain
  • NFT & Metaverse
  • Market & Analysis
  • ICO
  • Bitcoin
  • Altcoins
  • Ethereum
  • Litecoin
  • Dogecoin
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
Home Litecoin

Litecoin (LTC) Leads Gains With Over 27% Increase In The Week

Kingofmetaverse by Kingofmetaverse
November 8, 2022
in Litecoin
0
Litecoin (LTC) Leads Gains With Over 27% Increase In The Week
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Litecoin (LTC) has lately accomplished its most bullish week since June, following a outstanding rise. The “digital silver” registered over 24% features within the final seven days alone. There’s no fundamental catalyst for the token’s spectacular rise. Nevertheless, its features come amidst its hash fee reaching a brand new all-time excessive in the course of the week. 

Moreover, it has began the week off on a constructive observe by confirming its partnership with Wanchain. So far as the community’s interoperability is worried, this information is a giant win.

Litecoin Joins Polygon To Lead the High 20 Tokens In Good points

Within the earlier week, Litecoin has gained 24%, propelling it into the highest 20. These features come regardless of different tokens within the prime 20 league registering substantial losses and few features. As an example, Bitcoin, the mom crypto, solely gained round 1.65% previously week, per CoinMarketCap metrics. In actual fact, no token within the prime 5 positions recorded as much as 5% features. In addition to Litecoin, Polygon is the opposite top-20 token with huge features within the earlier week. The Ethereum layer-2 protocol, MATIC, was seen exhibiting features of 40%. 

LTC started a run on October 21 after reaching a low of $49.55. However November is setting as much as be a bullish month for the altcoin. Because the starting of the month, Litecoin has seen 5 consecutive days of rising costs. On November 7, it set a brand new intraday excessive of $73.29. This was the best value since Could of this 12 months. 

Most of LTC’s features got here on November 1st when the coin registered 15% features in a single day. The primary catalyst was MoneyGram’s announcement that it’d enable U.S.-based clients to buy LTC and different cryptos in its app.

LTCUSD
Litecoin’s value is at the moment buying and selling at above $67. | LTCUSD value chart from TradingView.com

Can LTC Sustain The Momentum?

Contemplating its current place, LTC’s upward trajectory would possibly quickly stage off. It’s because the cryptocurrency has already reached excessive overbought ranges throughout its current bull run. On the time of publication, the RSI main indicator for the token was additionally signalling a potential reversal.

Wanting intently at its value exercise suggests additional room for promoting strain. As an example, after hitting all-time low in June, the worth of litecoin has been steadily climbing inside an upward channel. Within the remaining week of final month, it retested the road of resistance, elevating the prospect of a reversal to the draw back.

In actual fact, previously week alone, Litecoin has gained as a lot as 25. Its efforts to interrupt out of the decrease zone are doubtless diluted by merchants grabbing fast income. Nevertheless, the absence of bullish strain will make this fragile and permit the bears to realize floor. To place it one other method, this can be a improbable probability for brief sellers.

LTC Mining Problem Reaches New Excessive

In response to Litecoin Foundation, mining issue has set a brand new excessive of below 18 million hashes. As of Friday, November 5, the mining issue for Litecoin elevated to 17.99 million hashes at block 2,363,707.

The spike in Litecoin’s mining issue means that extra miners have joined the community, rising competitors and making it more difficult to revenue.

Featured picture from Pixaby and chart from TradingView.com





Source link

Related articles

UK Government Set to Regulate Cryptocurrency; Says Treasury … – Investors King Ltd

UK Government Set to Regulate Cryptocurrency; Says Treasury … – Investors King Ltd

February 2, 2023
Monero (XMR) price staggers as the hash rate retreats

Monero (XMR) price staggers as the hash rate retreats

February 2, 2023
Tags: GainsIncreaseleadsLitecoinLTCWeek
Share76Tweet47
Previous Post

Bitcoin, Ether prices fall with most of crypto top ten, Polygon flips Solana

Next Post

The Crypto Revolution’s ‘Turning Point’

Related Posts

UK Government Set to Regulate Cryptocurrency; Says Treasury … – Investors King Ltd

UK Government Set to Regulate Cryptocurrency; Says Treasury … – Investors King Ltd

by Kingofmetaverse
February 2, 2023
0

UK Government Set to Regulate Cryptocurrency; Says Treasury ...  Buyers King Ltd Source link

Monero (XMR) price staggers as the hash rate retreats

Monero (XMR) price staggers as the hash rate retreats

by Kingofmetaverse
February 2, 2023
0

Monero worth moved sideways on Thursday as traders reacted to the newest rate of interest choice by the Federal Reserve....

Cryptocurrency Price Today In India February 2 Check Global Market Cap Bitcoin BTC Ethereum Doge Solana Litecoin Doge Ltc Eth Gainer Loser

Cryptocurrency Price Today In India February 2 Check Global Market Cap Bitcoin BTC Ethereum Doge Solana Litecoin Doge Ltc Eth Gainer Loser

by Kingofmetaverse
February 2, 2023
0

Ethereum (ETH) managed to climb above the $1,600 mark on early Thursday morning. Bitcoin (BTC) — the world’s oldest crypto...

Litecoin Sharks Were Behind $LTC’s Near 90% Surge, Data Suggests

Litecoin Sharks Were Behind $LTC’s Near 90% Surge, Data Suggests

by Kingofmetaverse
February 2, 2023
0

The worth of Litecoin ($LTC) has surged practically 90% since early November, with the motion seemingly being supported by so-called...

Data Reveals Reasons Behind Litecoin’s 80% Rally

Data Reveals Reasons Behind Litecoin’s 80% Rally

by Kingofmetaverse
February 1, 2023
0

Litecoin (LTC) just lately noticed a formidable 80% rally after the primary ten days of November 2022. Based on Santiment,...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular

  • Trending
  • Comments
  • Latest

BDTCOIN Is Set To Launch Best Ever Revolutionized Gold Standard Currency

November 23, 2022
Reddit Users Created 3 Million Crypto Wallets to Scoop Up Polygon NFTs

Reddit Users Created 3 Million Crypto Wallets to Scoop Up Polygon NFTs

October 19, 2022
More Than 50% of Bitcoin Addresses Are Now in Loss – CoinDesk

More Than 50% of Bitcoin Addresses Are Now in Loss – CoinDesk

November 21, 2022
Best movies of 2022 on Bitcoin and blockchain

Best movies of 2022 on Bitcoin and blockchain

October 19, 2022
Musk Lifts Twitter Ban On Dogecoin Accounts; DOGE Pumps 7%

Musk Lifts Twitter Ban On Dogecoin Accounts; DOGE Pumps 7%

December 5, 2022
Sen. Warren leads probe of Bitcoin impact on Texas power grid, ERCOT use of demand response ‘subsidies’

Sen. Warren leads probe of Bitcoin impact on Texas power grid, ERCOT use of demand response ‘subsidies’

0
Bitcoin Paints A Red Picture For Major Altcoins

Bitcoin Paints A Red Picture For Major Altcoins

0
Cardano (ADA) May Fade into Obscurity Like EOS, Top Trader Claims

Cardano (ADA) May Fade into Obscurity Like EOS, Top Trader Claims

0
Joel Dietz on Creating Ethereum, MetaMask and MetaMetaVerse

Joel Dietz on Creating Ethereum, MetaMask and MetaMetaVerse

0
Trading Bot Known for Outperforming Bitcoin and Crypto Markets Details New Altcoin Selections, With Ethereum Allocation Surpassing Bitcoin

Trading Bot Known for Outperforming Bitcoin and Crypto Markets Details New Altcoin Selections, With Ethereum Allocation Surpassing Bitcoin

0
Spatial Metaverse Company Launches GDC Announcement Today

Spatial Metaverse Company Launches GDC Announcement Today

March 24, 2023
Yuga Labs Announces Second Trip on March 25th!

Yuga Labs Announces The Otherside 2nd Trip Captains

March 24, 2023
L’Oréal’s Brandstorm Competition Brings You To The Metaverse

L’Oréal’s Brandstorm Competition Brings You To The Metaverse

March 23, 2023
Magic Eden Refunds Users Affected By Unverified NFT Bug

Magic Eden’s Bitcoin NFT Marketplace is Live!

March 23, 2023
MoonPay Partners with Filmmaker Julie Pacino for NFT-Powered Movie

MoonPay Partners with Filmmaker Julie Pacino for NFT-Powered Movie

March 23, 2023