‘Digital Silver’, Litecoin (LTC) Pushes Higher Towards $60 However These Pointers Keep Flashing

Total
0
Shares

LTC/USD Daily Chart

At the moment, Litecoin is seen in a bid to “pump into deflating fundamentals” taking a look at Litecoin’s network volume, this metric is yet to match up with its latest price surge.

Past uncertainties regarding Litecoin’s future caused investors to lose interest which was reflected in LTC trading volume as well as its on-chain and trading metrics. Earlier in the month, Litecoin trading volume fell to a 2-year low.

LTC’s mean fees per transaction also fell to $0.011 to mark lows recorded since October 2015. Low usage is often seen to translate into small fees with Miners’ interest significantly reduced.

On-chain analytics, Santiment also noted that apart from the aforementioned, another fundamental metric to pay keen attention to which seems to be against the peer-to-peer cryptocurrency is the number of daily active addresses.

Courtesy: Santiment

On the positivity side, in early July, Litecoin hodl hit all-time highs as 63.8% of Litecoin supply was seen to have remained untouched in the past 12 months.

Litecoin integration with Cardano (ADA) if holds, maybe another bullish factor for Litecoin.

In the event of a bull run, Litecoin might face increased odds of large pumps as long-term investors tend to be less tempted to sell at the first price move.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like