Litecoin Spikes While Bitcoin and Ethereum Opt for a Drop in 24H 

• Litecoin surged 22% in the last 30 days from $83 to $102.
• An unknown whale acquired 112K LTC from the crypto exchange Binance.

Bitcoin (BTC) and Ethereum (ETH) projected a 24-hour price drop of 0-1% during the Asian morning hours. Litecoin (LTC) gained over 4% in the last 24 hours to surpass $102, at the time of writing.

According to the data from TradingView, LTC marked an intraday high at $102.96 on the crypto exchange Binance. Litecoin’s price confirmed its bullish state by crossing the 9-day EMA, as per the below chart.

Furthermore, the relative strength index (RSI) of LTC was 68.17, inching closer to the overbought zone above 70. Hovering above 25 on the scale, Litecoin price action’s average directional index (ADX) denoted a strong bullish trend. 

Despite outpacing BTC and ETH with a max 24-H price gain percentile, LTC lagged behind in terms of year-to-date (YTD) surge. As per CoinMarketCap, Litecoin jumped 44% from $70.86 on Jan. 2023 to $102.5 at press time. 

Litecoin’s Current Stats

Noticeably, a whale transaction of 112,482 LTC was detected from Binance to an anonymous wallet. According to the crypto whales tracker Whales Alert, this transaction occurred around 02:36:32 UTC.

As per analytics, in the last 24 hours, 120,392,882 LTC were transacted and the network recorded 197,048 active addresses. Overall, the Litecoin blockchain archived 91,779 transactions in a day.

Bitcoin halving is expected to happen between late Q1 – Q2 of 2024 whereas Litecoin halving is an impending event of 2023. The previous halving, the second cycle, occurred in August 2019 to reduce the Litecoin mining rewards to 12.5 LTC. 13% of the supply of these PoW tokens is yet to be mined. At the time of writing, a total of 72,729,552 LTC — out of the 84 million supply — was in circulation. Also, each Litecoin (LTC) traded at $102 with a market cap of $7,418,343,641.

Recommended For You