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Litecoin (LTC) Price Rose More Than 7% in Last 24-hours

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Litecoin (LTC) Price
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Litecoin (LTC), the decentralized digital currency, showed bullish sentiments in recent hours. Its price surged almost 7.60% in the last 24-hours, while its weekly growth was just 5.80%, according to CoinMarketCap data. Besides LTC, Toncoin (TON), Conflux (CFX), and Sui (SUI) also noted more than 7% of surge in the last 24-hours. However, two most traded cryptocurrency by market cap Bitcoin (BTC) and Ethereum (ETH) also showed little bullish outlook in recent hours.

Litecoin (LTC) Price Analysis

At press time, the price of LTC is trading at $87.03, with 24-hour trading volume of $588.64 Million. Meanwhile, its market cap also reached $6.34 Billion in recent hours. Since the beginning of this year, its year-to-date (YTD) growth is almost 24%.

Litecoin (LTC) Price Analysis
Source: LTC/USD by Tradingview

As shown in the above chart, the trading price of LTC reached its 50-day EMA. Its price surged from its 200-day EMA to its 50-day EMA in recent hours. LTC price showed a bullish outlook as the active bulls in the market started showing their strength. The similar price growth of LTC coins was also seen in Mid of March this year. When the coin dropped at its lowest trading price of $65.39, till date. After which, the coin started its bullish run and surged around the trading price of $94.80.

The RSI of LTC coin also started rising upside while the continued bullish performance may lead it towards the overbought zone.

Litecoin Having

Litecoin was basically designed to do faster, and secure transactions by leveraging the unique properties of blockchain technology. The Litecoin halving event may take place most probably in the August month of this year. However, the date may change due to Litecoin’s network hash rate fluctuations.

It must be noted that the block halving event usually happens every four years in its blockchain. Its initial block reward was 50 LTC that splits every four years. The last halving event will take place sometime in the year 2139, when the last Litecoin will be mined, as noted in the Litecoin’s recent video.

Recently, Litecoin has shared a video in which it added about the Litecoin halving approach. The video contains the explanation of Litecoin halving. As mentioned in the video, As explained in the video, “Litecoin is the only blockchain running more than 11 years without interruption. It is the most reliable blockchain and second most accepted cryptocurrency worldwide.”

As the halving event is almost three months away, the Litecoin network witnessed a massive spike in active addresses.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

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