Litecoin has the biggest cluster in its history, should you buy LTC?

Litecoin LTC/USD is one of the first altcoins that was originally released in 2011, only two years after the launch of Bitcoin BTC/USD.

Litecoin is based on an open-source global payment network and uses Scrypt as a Proof-of-Work (PoW) scheme.

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Consistent transaction volume as a catalyst for growth

On March 31, 2022, Litecoin made an official announcement on Twitter that the LTC cryptocurrency is accepted anywhere that VISA is and that the Litecoin Card converts LTC at the time of purchase.

According to on-chain data from Santiment, through a tweet posted on April 3, 2022, the transaction volume on the Litecoin (LTC) blockchain has remained very high since early December. This is the biggest cluster in the entire history of Litecoin.

This has led to much speculation regarding the future value of the LTC cryptocurrency token.

Should you buy Litecoin (LTC)?

On April 4, 2022, Litecoin (LTC) had a value of $125.93.

To get a better perspective as to what kind of value point this is for the LTC cryptocurrency token, we will be going over its all-time high point of value, alongside the performance the token showcased throughout the previous month.

When we look at the all-time high point of value for the Litecoin (LTC) token, we can see that the token achieved its all-time high value on May 10, 2021, when it reached a value of $410.26.

This means that at its ATH, the token was $284.33 higher in value or by 225%.

With that value point in mind, when we move on to the performance of the token in March, Litecoin (LTC) had its lowest point of value on March 7, when it had a value of $97.74.

However, the token’s highest point of value was on March 30, when it reached a value of $133.55.

This gives us an indication that the token increased in value by $35.81 or by 36%.

With all of this taken into consideration, Litecoin (LTC) can reach a value of $140 by the end of April 2022, making it a solid token to purchase. 

Where to buy right now

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*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.