Connect with us
Active Currencies 14778
Market Cap $2,557,616,555,646.10
Bitcoin Share 51.24%
24h Market Cap Change $0.70

Review of Litecoin’s price show you wouldn’t want to miss

2min Read

Share this article

Litecoin’s price has been on a bullish run since the past month, with the coin seeing a 25.18% growth in its price action.

Following the broader market cues, the growth of the coin has been consistent over the past month

Source: TradingView

One of the reasons for Litecoin’s substantial growth could be the increasing interest from whales in the recent past.

Source: Messari

From a steep low that was seen on 26 July, the interest from whales can be seen increasing at a steady amount with the price following suit.

Although it is a bullish indicator, a high correlation between the price and whale action could make the cryptocurrency vulnerable to a pump and dump.

Even though an increase in wallets holding $10 million is a good sign, there need to be more indicators of stability in altcoin’s growth.

Luckily we can see that the number of unique addresses being registered has been growing.

With Litecoin boasting 150 million unique addresses, second only to Bitcoin and Ethereum in this regard, things are looking up for LTC.

Source: Messari

The price and the on-chain metrics aren’t the only things on Litecoin’s side, it seems as if the Canadian government has given its nod of approval to the coin as well.

No Cap

In an unprecedented move, the Canadian government recently decided to put a cap on retail investors’ expenditure on crypto, limiting them to $30k CAD.

The cryptocurrencies exempt from this are Bitcoin, Ethereum, Litecoin, and Bitcoin cash.

Evidently, Litecoin has taken a seat with the big players in crypto. This kind of approval from the Canadian government may result in a growth of investors’ trust in the altcoin.

This news has also sparked an interest in Litecoin on social media platforms. Consider the chart below, for instance. 

Source: LunarCrash

With the ever-increasing hype of Litecoin and its collaborations with major companies like PayPal, Litecoin’s future is looking bright at the moment.


Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.