Litecoin witnessed an increase in network activity 11 days ahead of its much-awaited halving. The crypto community’s expectations for LTC are high.
Not only that, but as per Santiment’s chart, whale activity also increased over the past few weeks, as evident from the rise in its whale transaction counts. Additionally, the total number of LTC holders also went up sharply.Litecoin mining industry’s state looks interesting
While network activity was on the rise, the same was not true for the blockchain’s mining industry. Coinwarz’A similar declining trend was also seen on LTC’s difficulty , suggesting an outflow of miners from the network. However, the surprising thing was that this happened at a time when miners’ fees were increasing along with the coin’s price, which generally attracts new miners.Mentioning LTC’s price action, it gained bullish momentum in the last 24 hours as its value increased by over 2.5%. At press time, it wasThe hike in price can result in an increase in the aforementioned metrics, as it would mean more profits for miners.
As per Shan Belew, a popular Twitter user who posts updates related to the Litecoin ecosystem, he mentioned in his latest tweet that, as per his findings, Litecoin’s price can reach the $30,000 mark. Oh sh*t. I had the $625k – $1.5M targets on the chart and was looking at how this market structure for Bitcoin looked just like 2015-2017 cycle. So I overlaid the fractal and sure enough it was spot on with
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