The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
All Alt Coin

These metrics paint a two-faced picture of what’s next for Litecoin

by Miki 09/18/2021
by Miki 09/18/2021 0 comment

Over the year, the crypto-verse has seen some major pumps and dumps driven by FUDs which have severely affected the prices of tokens. Heck, even Bitcoin was not spared the wrath of FUDs, let alone meme coins like Dogecoin and Shiba Inu. However, one alt that has shown some resistance to the same is Litecoin. 

The price of Litecoin spiked swiftly early on Monday, before falling back, after a news release touting a partnership with retail giant Walmart Inc. turned out to be fake. Nonetheless, despite the rest of the market being fairly lukewarm at press time, LTC was notably holding up better than the rest.

What has helped hold this currency’s price?

LTC’s OG coin club status

Litecoin, at one point, was valued at $240, up by almost 40%, after the issuance of a press release that touted a Litecoin-Walmart partnership. The altcoin’s trade volumes also saw their highest peak since 19 May. Alas, these numbers quickly fell after Walmart clarified that the news release was fraudulent.

While this definitely came as a blow, it was notable that LTC’s price didn’t drastically fall post the FUD. 

For Litecoin, however, some good news followed a couple of days later. AMC made headlines by announcing it will support Bitcoin Cash, Ethereum, and Litecoin. While ETH and BCH’s prices didn’t note much of an impact, LTC’s price has strongly held on to the $170-support level. 

It is possible then that Litecoin has held on so well since it is part of the OG coins’ club that has been around for a long time. Apart from that, the constant support by institutions has enabled its growth.

Even so, LTC’s metrics seemed to be painting a two-sided picture for the altcoin. 

Here’s the metrics’ verdict…

While active addresses for LTC were at an ATH on 8 September, they took a downturn soon after. The after-effects of the FUD weren’t as evident as active addresses were still higher than the numbers seen last year. The downtick in active addresses also saw signs of reversal post the FUD news as they were seen forming a V-shaped recovery curve. 

Further, the aSOPR and dormancy highlighted contrasting patterns. Dormancy showed that older coins were in circulation – A bad sign for the price. What’s more, the aSOPR on different averages highlighted that profits are being realized. 

Source: Glassnode

Even with Litecoin’s price dropping at press time, its aSOPR was trending higher. This implied that profits are being realized with potential for previously illiquid supply being returned to liquid circulation.

Thus, while LTC’s mid-short-term trajectory looks like it may face certain bumps due to the larger market going down, long-term prospects look good. Further, LTC’s resistance from the FUD was proof of Litecoin’s market strength. 

Source link

Views: 1
LitecoinmetricspaintPicturetwofacedWhats
Share
0
FacebookTwitterPinterestEmail
previous post
Just 10 Days After El Salvador’s “Bitcoin Day”, President Bukele Confirms 1.1 Million Citizens Have Chivo Wallet
next post
Over $1 billion worth of Ethereum (ETH) now burned after EIP-1559 update

Related Posts

Are Solana’s bulls really strong enough to halt...

12/29/2021

IXFI Announces Launch of New-Age Exchange Platform

12/29/2021

Litecoin repeating history will have this effect on...

12/28/2021

More than just a game – what GameFi...

12/28/2021

Even as network hits one million users, FTT...

12/28/2021

Fintech Expert Makes Six Bold Predictions for Crypto...

12/28/2021

A recovery rally in play for Sushiswap, as...

12/28/2021

SEC Accused of Deliberately Trying to ‘Kill’ XRP...

12/28/2021

Recent gains may finally boost Aave’s dominance in...

12/28/2021

Santa Floki Price Rallies 5,000% after Elon Musk’s...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Charles Hoskinson Shares Cardano Plans for 2022

  • Podcasting 2.0 And Its Relationship With The Lightning Network

  • Can Promising CRP Mining Change Approach to Crypto Mining due to Negative Environmental Impact?

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$30,366.002.59%
  • ethereumEthereum(ETH)$2,057.433.28%
  • tetherTether(USDT)$1.000.07%
  • binancecoinBNB(BNB)$327.162.65%
  • usd-coinUSD Coin(USDC)$1.00-0.17%
  • rippleXRP(XRP)$0.4217511.37%
  • Binance USDBinance USD(BUSD)$1.00-0.14%
  • cardanoCardano(ADA)$0.552.46%
  • SolanaSolana(SOL)$53.305.19%
  • dogecoinDogecoin(DOGE)$0.0875252.04%
  • polkadotPolkadot(DOT)$10.281.27%
  • AvalancheAvalanche(AVAX)$31.685.50%
  • Lido Staked EtherLido Staked Ether(STETH)$2,011.133.41%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$30,358.002.51%
  • tronTRON(TRX)$0.0772942.53%
  • Shiba InuShiba Inu(SHIB)$0.0000125.49%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • daiDai(DAI)$1.00-0.08%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$71.921.37%
  • CronosCronos(CRO)$0.1967992.99%
  • LADZLADZ(LADZ)$0.0686894.36%
  • matic-networkPolygon(MATIC)$0.682.88%
  • leo-tokenLEO Token(LEO)$4.941.20%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.311.11%
  • FTX TokenFTX Token(FTT)$30.701.18%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$198.461.37%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.474.54%