Litecoin (LTC) Price Jumps Over 8% Amid Soaring Wallet Addresses
Litecoin has once again swung into action recently with the LTC price jumping more than 8.5% in the last 24 hours. As of press time, LTC is trading at a price of $83.14 and a market cap of $5.9 billion.
On the technical chart, Litecoin has given a clear accumulation breakout which could further lead to the LTC price surge to $90 and more.
Clear accumulation breakout with retest and consolidation above. EMAs are bullish.
This thing can push to $90+ pretty quickly once momentum gets going. pic.twitter.com/uCS6QUcF5z
— Nebraskangooner (@Nebraskangooner) November 30, 2022
Litecoin has been one of the top-performing altcoins over the last month taking the entire crypto space by a surprise. LTC is up by more than 20% on the monthly chart and more than 30% up on a three-month chart.
Interestingly, while Bitcoin, Ethereum, and other altcoins have been under selling pressure and a downward trajectory, Litecoin has delivered an excellent performance with strong gains.
On-chain Data: Litecoin Wallet Addresses on the Rise
The on-chain data shows that the Litecoin wallet addresses have been on the rise supporting the LTC price surge. On Sunday, December 4, the Litecoin Foundation tweeted:
“On-chain data shows the number of #Litecoin wallet addresses continues to grow at a steady pace. From the beginning of the year, the number was approximately 117 million wallets. Now, there are 162 million LTC wallets and growing”.
On the other hand, the Litecoin network continues to hit some important milestones. As per data, more than a trillion dollars have been moved on the Litecoin network since its inception. An official update from Litecoin notes:
The current global #Litecoin hashrate is 613.81TH/s at block height 2,380,689 with a difficulty of 19,865,123.41.
As we know, the Litecoin team has also been working actively on the upgrade of its Mimblewimble protocol that promises strong privacy, security, and scalability features. With its recent performance, Litecoin has been on the radar of crypto traders and challenging some top altcoins for a spot in the top-ten crypto list. Can Litecoin (LTC) price hit $100 before the end of 2022?
- ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
