According to the analytics company IntoTheBlock, more than 60% of holders Litecoin (LTC) is currently in profit. That's the highest since April 2024, when it surged to 75% after the Commodity Futures Trading Commission declared LTC a commodity.
Recent rate growth Litecoin began after a humorous announcement by the asset's developers that kriptovalyuta received the status of a memecoin. A simple post with the inscription “Now I am a memecoin” led to the LTC rate rising by more than 15%, exceeding the $85 mark. The trading volume of the asset also increased by more than 33%, reaching $950 million.
However, the LTC rate is still 77% below its 2021 record high of $412.
LTC rate per week
According to analysts at IntoTheBlock, Litecoin there is potential to reach new highs. Especially since short-term holders of the asset are now demonstrating increased demand for Altcoyin . LTC balances on their crypto wallets increased by 31%. Usually, such interest precedes a jump in the asset’s price.
Another factor that influenced investor sentiment was the interest in LTC from miners - since the beginning of 2024 hashrate Litecoin rose by about 30% to 1,35 P/s. And lastly, in October, asset manager Canary Capital filed for the first spot LTC- ETF , which also became a reason for optimism among asset holders.
