Litecoin New Addresses Jump 55% In 7 Days Ahead of Halving Event
June 21 (Cointime) - The upcoming halving event for Litecoin has caused a surge in bullish sentiment, as evidenced by the significant increase in new daily addresses on the blockchain over the past week. According to on-chain data aggregator IntoTheBlock, the number of new addresses on the Litecoin network has risen by 55% in just seven days, with the total number of addresses now surpassing that of Ethereum. The halving event, which will see the block reward for miners cut in half, could trigger a rally for the cryptocurrency, with investors hoping for a price increase to over $100.
Litecoin's Daily Active Users Jump by 8.86% Despite Slumped Price
June 19 (Cointime) - Litecoin's price has decreased by 0.11% over the past 24 hours, currently sitting at $77.26. However, the cryptocurrency has seen a significant increase in its daily active users, with a jump of 8.86% to 433,170 addresses. This growth in usage is crucial for the protocol's future price surge. Additionally, Litecoin has surpassed two major milestones, reaching 200 million total addresses and surpassing five million Ordinal Inscriptions. These growth metrics, combined with its 100% uptime and halving sentiment, make Litecoin one of the most used protocols after Bitcoin, Ethereum, and XRP.
Litecoin (LTC) Price Could Rally 30% if It Bounces at This Level
June 19 (Cointime) - The current support level for Litecoin (LTC) is crucial in determining its future trend. A breakdown from this level would invalidate a year-long bullish structure, while a sharp bounce could lead to another attempt at breaking out above $100. The analysis of LTC's weekly time frame leans bearish, with the RSI indicating a bearish trend.
Litecoin (LTC) Price Nears Rebound: Miners' Bullish Sentiment?
Litecoin (LTC) has seen a 3% recovery in price after a 10% drop on Monday due to market turbulence. On-chain data shows that Litecoin Miners' confidence has been crucial to the early price rebound. The increase in Litecoin Miners' reserves since the start of June indicates a positive change in sentiment among them, despite the recent industry-wide contraction.
Crypto Trivia on Meme Coins and Forks Reveals Surprising Responses from Community
Binance.US conducted a crypto trivia on Twitter to test the knowledge of the crypto community about meme coins and crypto forks. The trivia asked which meme coin was a fork of Litecoin, with options including Shiba Inu, Dogecoin, Floki, and Others. Surprisingly, a higher percentage of respondents chose Shiba Inu, while Dogecoin, which is actually a fork of Litecoin, received the lowest percentage of responses. The results highlight the need for more education about cryptocurrencies.
BIT Mining Shifts Focus from Ethereum to Dogecoin and Litecoin, Raises Concerns Among Analysts
BIT Mining, a once-leading Ethereum miner, has shifted its focus to Dogecoin and Litecoin after Ethereum's transition from proof of work to proof of stake. The company's revenue primarily comes from mining cryptocurrencies independently, mining as part of a pool, and hosting services within its data centers. Analyst Mike Fay has expressed concerns over BIT Mining's decision to sell one-third of its Ethereum holdings and significantly increase its Dogecoin treasury, questioning why the firm would hold onto "meme coins" instead of leveraging Ethereum's staking potential.
Reasons Behind Litecoin’s Price Increase: Approaching Halving, On-Chain Transactions, and Whale Activity
On-chain data agency Santiment has identified three reasons for the recent increase in Litecoin's price, including the approaching halving event in August. Since May 25, Litecoin has risen by almost 14% and currently trades at $94.57. The first reason for the growth is the upcoming halving event, which will cut miners' rewards per block in half. Additionally, there has been a two-year high in the volume of on-chain transactions and the highest whale activity since January. BitPay has also announced that Litecoin has become the second most popular cryptocurrency transacted through its platform and is offering a giveaway of $250 worth of LTC to celebrate.
Litecoin Rises 7% in 24 Hours, Bullish on Halving and Increased Network Activity
Litecoin (LTC) has seen a 7% increase in value over the past 24 hours, with investors anticipating the network's halving in two months and a surge in activity in May.
Litecoin (LTC) Achieves Massive Milestone as Anticipation Builds for Halving Event and Potential Price Surge
Litecoin (LTC) is experiencing significant growth in its network as the upcoming halving event approaches, with expectations that it will push the price of Litecoin to new highs.
Litecoin Gains Momentum Ahead of Third Mining Reward Halving in August
Litecoin's third mining reward halving is set to occur in early August, resulting in a 50% reduction in the per-block reward paid to miners. Despite this, Litecoin has experienced significant gains, with its price reaching $92.58 and on-chain metrics showing positive trends.
