Cryptocurrency Litecoin (LTC) is making huge moves gaining over 36% over the last week alone. At press time, Litecoin (LTC) has jumped 14.42% hitting its new milestone of $80.75. The cryptocurrency has added a whopping $1.3 billion to its market in less than seven days and has climbed above Bitcoin Cash (BCH) to become the sixth most-valuable cryptocurrency as of now.
Litecoin (LTC) remains one of the top-performing altcoins with its price jumping almost 100% year-to-date and more than 200% from its 2020-low during March. While rebounding from its crucial support levels at $70, LTC bulls have raged-in pushing it to $80 as suggested earlier today.
Litecoin’s bullish breakout along with the BTC movement sends out strong signals ahead.
Long-term, #Litecoin has been losing its value with respect to #bitcoin so far.
Now, $LTCBTC is approaching the end of the descending wedge which is within a bigger wedge.
If it is really a bull market, I would expect it to break to the upside and show some strength. $LTC $BTC pic.twitter.com/D6ulLjWWHg— CryptoHamster (@CryptoHamsterIO) November 18, 2020
Trending Stories
Total AUM of Grayscale Litecoin Trust Jumps Touches $60 Million
While the LTC price is making a strong surge, it is most likely driven by institutional money flow. The Grayscale Litecoin Trust (LTCN) has seen its assets under management (AUM) surging over 70% in November so far. As of the latest update on November 18, there a net inflow of an additional $25 million worth of funds in LTCN.
In its latest tweet, digital asset manager Grayscale admits that the LTCN has been one of its most attractive products for investors during 3Q20.
In 3Q20, we saw an increased appetite for Grayscale Bitcoin Cash Trust, Grayscale Litecoin Trust, and Grayscale Digital Large Cap Fund. On average, these products saw inflows increase by more than 1400% quarter-over-quarter. Read the full report here. https://t.co/F48x8d0frs pic.twitter.com/1qKi3uCzOj
— Grayscale (@Grayscale) November 19, 2020
This clearly indicates a strong interest in LTC and one could go for a long. Interestingly, Litecoin has also surpassed the AUM for Grayscale Bitcoin Cash Trust this month.
While Bitcoin (BTC) is just within 10% of its all-time high, Litecoin (LTC) has still a lot of catching up to do ahead. LTC is still down 80% from its all-time high of $420 in December 2017. Maybe the next alt season can change the fortune for LTC investors. Along with LTC, all other top-ten altcoins are in green at press time.
- Just In: Basel Committee Proposes Cap For Banks’ Bitcoin Holding
- Dogecoin (DOGE), Shiba Inu (SHIB) Show Strength, Here’s Why
- Breaking: Singapore Financial Regulator Reprimands Three Arrows Capital
- Ethereum Exchange Supply Spikes, ETH At A Risk of Correcting to $700 And Below
- Bitcoin Prices Can Reach This Level By End Of 2022; Reveals Deutsche Bank
- NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked
- EU Passes A Bill to Trace the Flow of Bitcoin & Crypto Assets In Regulatory Tightening Measures
- North Korea’s Lazarus Group Behind $100 Million Horizon Hack, Harmony Initiates Global Manhunt
- “People Mocking Saylor Will Regret”- Binance CEO
- Grayscale Initiates A Lawsuit Against the U.S. SEC Over Spot Bitcoin ETF Issues
- Polygon Price Analysis: V-top Reversal may Direct MATIC to $0.31 Support
- ETH Price Analysis: Is Ethereum Dropping To Three Digits?
- Bitcoin Price Analysis- BTC on Losing Streak Nearing $17800; Will it Hold?
- NEAR Price Analysis: Falling Prices Eye $3 Breakdown; Should Coin Holders Worry?
- SHIB Price Analysis: Sustained Selling may Lead $SHIB to $0.0000074?
- Sandbox Price Analysis: Crashing SAND Prices Warns 25% Downfall
- Solana Price Analysis: $36 Breakdown Teases SOL Price to Revisit $26
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?
