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Litecoin Price Eyes $100 Comeback as On-Chain Volume Hits 16-Month High

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3 months ago

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During a low volatility Saturday, the Litecoin price surged 3% to trade at $75.3. The bullish trajectory is likely fueled by on-chain recovery and a major breakout from price. Will the LTC Price build sufficient momentum for a $100 comeback, or are sellers ready to counterattack?

Litecoin Price Targets $100 as On-Chain Volume Reaches 16-Month Peak

According to Santiment data, the Litecoin on-chain transaction volume soared to nearly $4 billion in a single day—the highest level in 16 months. The surge in transaction volume, along with price recovery, signals buyers’ convocation to drive a higher rally,

One of the key drivers behind this surge is the growing discussion around Litecoin, which now accounts for 1.08% of all crypto-related discussions, a notable increase in social dominance. The heightened on-chain activity signals the growing appeal of Litecoin among investors as broader market conditions rebound.

By press time, the Litecoin price had traded at $75.2, while the market cap had boosted to $5.6 billion. 

LTC Price 2.5% Away From Major Breakout

Over the past four months, the Litecoin price prediction has traded sideways, struggling to surpass $77 resistance. An analysis of the daily chart shows this consolidation hovers above the bottom support trendline of a long-coming triangle pattern.

Theoretically, the pattern drives a temporary consolidation for the prevailing trend to regain its momentum. With the chart pattern intact, the Litecoin price is poised to rebound within the two trend lines before offering a deceive breakout.

Amid the Canary Capital filing for an LTC ETF, the coin price rallied to $75.26, marking a 21.5% growth over the past two weeks. A bullish recovery backed by a notable spike indicates a higher potential to breach the overhead resistance of $77.

A successful flip of this resistance into support will bolster a 34% rally to challenge the triangle resistance trendline at $103. 

The Litecoin price trading above the daily exponential moving average (20, 50, 100, and 200) recuperates the bullish narrative in LTC’s midterm term.

Litecoin PriceLitecoin Price
LTC/USDT -1d Chart

On the contrary, if the LTC price fails to break the $77 breakout, the sellers could delay the above bullish thesis and drive a prolonged consolidation.

Frequently Asked Questions (FAQs)

Litecoin’s price recovery is driven by a significant increase in on-chain transaction volume, reaching nearly $4 billion in a single day.

Litecoin is currently 2.5% away from challenging the $77 resistance level, which has held the price in consolidation for the past four months.

A successful breakout above the $77 resistance could trigger a 34% rally, pushing the Litecoin price toward the next target of $103,

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Peer To Delist XRP and Litecoin (LTC), But There’s A Catch

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2 weeks ago

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December 27, 2024

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XRP News: Crypto exchange Binance’s peer OKX will delist Ripple’s XRP and Litecoin (LTC) USDT-margined and crypto-margined expiry futures today. The move comes in line with current market trends and to meet users’ needs, the crypto exchange explained.

Traders may anticipate some volatility in XRP and LTC prices as a result of this news. However, analysts are optimistic about further rally in the next bull market wave.

OKX to Delist Ripple’s Coin and Litecoin Delivery Contracts

Crypto exchange OKX announced earlier that it will phase out the generation of XRP and LTC USDT-margined and crypto-margined expiry futures. This is scheduled to be completed by today, December 27.

The crypto exchange will officially delist XRP and LTC expiry futures at 8 AM UTC on December 27, 2024. Bi-weekly expiry futures and Bi-quarterly expiry futures were ceased in earlier months by the platform. It also cleared that the currently listed expiry futures will remain unaffected until their respective expiration dates.

Amid this delisting news by the top crypto exchange Binance’s peer OKX, there may be some volatility in XRP and LTC prices. This may happen due to traders reacting to the developments. Investors need to keep an eye on trading volumes and market sentiments for any change in direction.

XRP and LTC Prices Under Pressure

XRP price today jumped 0.5% and 11% in a week, with the price currently trading near $2.20. The 24-hour low and high are $2.13 and $2.23, respectively. Furthermore, the trading volume has continued to decline this week, with a 20% jump in the last 24 hours, indicating a decline in interest among traders.

XRP priceXRP price

Ripple’s native coin XRP has shown similarities in price movements to its historical chart patterns of 2014-2017. A breakout and positive news can push the XRP price beyond the $20 level.

Meanwhile, Litecoin price is also trading sideways near $104. The price changed hands at $104.05, after a more than 20% rally this week. The 24-hour low and high are $101.16 and $104.16, respectively. Total LTC future open interests dropped 1% in the last 24 hours. The 4.38 million LTC futures OI are now valued at $457.26 million, signaling cautious trading activity.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.

At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as “Best Crypto Media Company 2024” for high impact and quality reporting.

Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Peter Brandt Hints At Litecoin Price Rally To $420 Mirroring XRP’s Path

Published

1 month ago

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December 2, 2024

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Veteran trader Peter Brandt recently sparked market optimism with his social media post, hinting at a potential Litecoin price rally to $420. Notably, this comes as the LTC crypto has noted a surge of nearly 21% today with its volume skyrocketing, indicating strong market confidence. In addition, Brandt also caught the investors’ eyes, indicating that the crypto could follow XRP’s robust rally in the coming days.

Peter Brandt Hints At Litecoin Price Rally To $420

Litecoin price has witnessed a robust rally recently, soaring more than 21% while its trading volume also skyrocketed. Notably, this rally comes amid renewed market interest in the investors towards the digital assets space, especially after Donald Trump’s election victory.

In addition, the resignation update of the US SEC Chair Gary Gensler has further fueled the bullish sentiment in the market. Having said that, many in the crypto community anticipate the top altcoins to witness further gains ahead alongside Bitcoin.

On the other hand, the expectation of potential Litecoin ETF approval in the US has also sparked interest among traders. Amid this, top crypto market expert and veteran trader Peter Brandt has sparked discussions in the market.

In a recent X post, Brandt shared an LTC price chart, which indicates that the crypto could hit $420 in the near term. In addition, the expert said “Can LTC pull another XRP????” while sharing the chart, which has further fueled sentiment.

Litecoin price LTC Peter BrandtLitecoin price LTC Peter Brandt
Source: Peter Brandt, X

Notably, XRP price has noted a massive surge recently, soaring past the $2 mark. In addition, it also surpassed the market cap of Solana and USDT, sparking optimism in the market. Having said that, the comparison between LTC and XRP by Peter Brandt has triggered discussions in the market.

LTC Price Rallies

LTC price was up more than 21% today and exchanged hands at $122.63, while its one-day trading volume rocketed 263% to $2.92 billion. Notably, the crypto has touched a 24-hour high of $129.18. Furthermore, CoinGlass data showed that Litecoin Futures Open Interest soared 37% to $620.31 million, suggesting strong market interest in the crypto.

Amid this, Peter Brandt’s post has sparked speculations over further rallies in the crypto’s price. In addition, it also comes as the experts remain bullish on the altcoins sector, given the anticipation over pro-crypto legislation in the US under Donald Trump.

Besides, the crypto has also gained traction as it rebranded itself as a meme coin recently. Notably, the top meme coins have received a significant boost, as evidenced by the rally in Dogecoin, Shiba Inu, and others. Amid this, the rebranding of LTC as a meme coin has also fueled discussions in the market.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Litecoin Founder Comments On ETF Approval Following Canary Capital Filing

Published

3 months ago

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October 21, 2024

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Litecoin founder Charlie Lee recently spoke about enthusiasm for the ETF application, especially regarding rising institutional interest in Litecoin and possible approval.

He also pointed out the importance of the demand, reflected by the more than daily 2% growth of the Grayscale Litecoin Trust, which is currently trading at more than double its NAV.

He added comparisons with Litecoin’s peer-to-peer transactional similarities with Bitcoin, saying the likelihood of the Litecoin ETF approval anytime soon is extreme.

Litecoin Founder Charlie Lee Says ETF Approval Coming Soon

Litecoin founder Charlie Lee recently expressed delight over Canary Capital’s recent filing for a Litecoin ETF because this indicated that the cryptocurrency was finding interest among both institutional and retail investors.

Sounding confident, he projected that permission for the LTC ETF would not take much time because crypto ETF products were gathering pace in the market. If this happens, some market experts predict the Litecoin price will jump to $400 and more than $1,100 by 2026.

At the same time, market sentiment reflects the rising demand for Litecoin, which may also serve to justify the approval of this ETF. This interest follows a wider trend of institutional adoption of cryptocurrencies, underlining the changing dynamics across the digital asset landscape.

With the recent approval of Bitcoin and Ethereum ETFs by the SEC, the door is finally open for spot ETF applications to be approved for other cryptocurrencies, including Solana’s SOL, XRP, and Litecoin LTC.

Of course, one of the big surprises last week was Canary Capital’s application for a Litecoin ETF alongside its XRP request. Litecoin is up 6% weekly at the time of writing, trading at $70.88.

Rollercoaster Ride: ETF Filing Fuels Volatility

The Litecoin founder pointed to the growing interest in Litecoin, using the increasing value of Grayscale’s Litecoin Trust as proof that this institutional demand is on the rise. He said the trust was trading at more than double its net asset value, NAV, which was a sign of excellent market interest in the cryptocurrency.

He finally added that Litecoin shares much in common with Bitcoin in many aspects since both are commodities. This optimism aligns with the broader trend of increasing institutional involvement in cryptocurrency.

In the wake of the latest filing, the LTC price increased significantly, reaching a monthly high of $75.88 and recovering from a low of $62.12. However, the uncertainty associated with the approval, along with general volatility in the market, has placed the Litecoin price at $71.44, a drop of 5.04%.

Canary Capital Files for Litecoin ETF, Following XRP Filing

At the time, James Seyffart, an ETF analyst at Bloomberg Intelligence, only confirmed that Canary, who previously filed for an XRP ETF, has now applied for a Litecoin ETF.

Seyffart agrees with the Litecoin founder but also said that Litecoin is already a member of Europe through listing exchange-traded products. “Some ETPs already hold Litecoin, such as $LITE in Switzerland from CoinShares and $ELTC in Germany from ETC Group,” Seyffart said. He further explained that in the US, the Grayscale Litecoin Trust traded under the symbol LTCN.

This latest ETF filing is very different because it’s a single ETF focusing on Litecoin, whereas previous filings have focused on major cryptocurrencies. Even Eric Balchunas, the senior ETF analyst at Bloomberg, added his voice to this regarding the importance of this filing. He explained that it’s not just the first Litecoin ETF in the U.S. but potentially the first one globally.

“Even 21Shares does not have one at this point,” he stated.

This move comes hardly a week after Canary Capital filed for an XRP ETF on October 8, gathering massive crypto community attention. Filing for XRP came after similar filings by Bitwise, a leading crypto asset manager. If approved, Litecoin founder Lee hopes that both the Litecoin and XRP ETFs will offer new ways for traditional investors to get exposure to the assets.

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Teuta

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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