- Litecoin prices remained relatively unaffected during the crypto crash.
- Currently, Litecoin is trading at a one-year high against Bitcoin.
- Justin Bennett reacted to the current trading price of Litecoin.
In the past few weeks, the price of one of the most popular altcoins (cryptocurrencies other than Bitcoin), Litecoin, showed a surge of 18.12% with a trading volume of $300 million (USD). Litecoin’s price remained unaffected during the FTX crash and increased more than 40%. Meanwhile, major digital assets like Bitcoin and Ethereum are recorded down about 25%. According to crypto price tracking website CoinMarketCap, Litecoin was close to its recent ‘winning’ streak – $77.22 (USD).
Recently, popular crypto strategist Justin Bennett tweeted that he is bullish on Litecoin over Bitcoin. He also tweeted that Ethereum, the second largest cryptocurrency by market capitalization, would probably show a drop in price after hitting local highs last month.
Justin Bennett stated, “I am bullish on LTC in the short term, especially against BTC, but there is no reason to think we won’t see this play out again in 2023.”
One more crypto analyst, popularly called ‘DonAlt’, with over 440,000 subscribers on Twitter, shared his opinion on the growth of Litecoin. He predicted that Litecoin’s price would hit $200 (USD) in 2023. DonAlt further added that Litecoin would gain popularity due to the availability of the network’s mining rewards of 12.5 LTC.
Ever since one of the world’s most ambitious companies and one of the largest cryptocurrency exchanges, FTX collapsed in an unceremonious manner, investors started investing in Litecoin to recover from huge losses. Currently, Litecoin holders are shifting their holdings to The Hideaways (HDWY) which is the world’s first luxury real estate investment platform.
A New Crypto Project By The Hideaways
The Hideaways have started a new cryptocurrency project to provide a Non-Fungible Token or NFT that a luxury property will be based on. Each NFT will be divided into fractions and made available to users for $100 (USD).
Key highlights of the project:
- Primary Passive income through the fully managed property rental throughout the year.
- Secondary passive income through staking of The Hideaways token.
- Secondary capital appreciation through NFT trading
Market capitalization of the entire crypto market is $856 billion, a gain of 0.63% over yesterday. At the time of writing, Bitcoin and Ethereum were trading at $16,986 (USD) and $1,285 (USD), respectively. As per CoinMarketCap, since the past 24 hours, Bitcoin has gained 1.58%, and Ethereum has gained 1.37%.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/12/04/crypto-analyst-justin-bennett-is-bullish-on-litecoin-against-bitcoin/