- After numerous months of flat spectrum trading below the $60 bar, Litecoin did an astonishing jump over this subjective level on November 2, touching one day high of $62.53.
At the press time, Litecoin was trading at about $59.42 which was above 7.13% in the past one day and above 4.78% in the past one week, as per the data revealed by CoinMarketCap. It is worth noting that as many cryptocurrencies are currently facing losses. Not only that, trading volumes have plunged 90% as traders try to gain profits on the recent step.
From September 13, the date on which it trades to the high of $67.48, Litecoin fell to trade under the $53 bar, where it lasted till the end of October. LTC went above the $53 bar on October 27 and has remained over it till this recent hype.
Moving further, bulls require to crush the $62.54 mark placed close to the daily MA 200 to make the rally progressed. The RSI of every day is over the 60 bar, advising an extreme for buyers. On the other side, if bulls become exhausted, Litecoin takes a chance going back to its earlier spectrum, where it may centralize before any other immense step.
MoneyGram
MoneyGram, an American cross-border P2P payments and money transfer company has publicized the introduction of a new feature that will permit users of the platform mobile app to purchase, trade, and keep crypto.
The digital payments company has plans to include more cryptocurrencies in the app in the coming year, as global law permits.
The chairman and Chief Executive Officer of MoneyGram, Alex Holmes said:
“As users enjoy digital currencies and it carries on to rise, we are differently placed to fulfill that demand and fill the gap of blockchain and regular financial services thanks to our global network, directing consent solutions, and strong civilization of fintech innovation.”
Through this mobile application, the users of MoneyGram can trade and keep Bitcoin, Ethereum, and Litecoin in nearly all the countries of the United States and the District of Columbia. The recent partnership of the company was with Coinme, a U.S.-licensed crypto exchange that allows it to buy, trade, and store cryptocurrencies using the MoneyGram app.
The founder of Litecoin, posted on Twitter expressing his happiness through it. As the firm acknowledges growth in new areas in the coming year, seeing laws allow it, MoneyGram is expected to grow the number of crypto assets it provides.
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/2022/11/03/litecoin-price-takes-massive-jump-after-adoption-news-know-the-details/