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Litecoin explodes more than 25% and overtakes Solana to lead in the current bear market

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2 years ago

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  • Litecoin has outperformed all other altcoins in the market gaining more than 37 percent on the weekly chart.
  • The recent LTC price surge comes amid strong whale accumulation since the beginning of November.

The cryptocurrency market has shown a strong bounce-back gaining 6.5 percent over the last 24 hours. But one altcoin that’s delivered outstanding returns is Litecoin (LTC).

In a surprise move, the LTC price has shot up 27 percent as of press time and is trading at $79.00 with a market cap of $5.6 billion. With this recent move, Litecoin has surged past both – Solana and Shiba Inu – to become the 13th largest cryptocurrency by market cap. Similarly, the 24-hour trading volumes for Litecoin have also jumped by nearly 200 percent shooting to over $2.18 billion.

While most of the cryptocurrencies have been trading in the red, Litecoin has outperformed all big players with 37 percent weekly gains. In fact, it’s not only the last week! LTC has outperformed the entire crypto space since June this year.

Much recently, Bitcoin evangelist Michael Saylor also compared Litecoin to Bitcoin. Saylor said that Litecoin is just a commodity similar to Bitcoin. This comes at a time when the U.S. Securities and Exchange Commission (SEC) has been going after every big cryptocurrency in the market and running it through the Howey Test to determine whether it’s a security or not.

Additionally, the world’s largest crypto payment processor BitPay also added support for Litecoin earlier this year. Since then, Litecoin has surpassed every other altcoin in the market in terms of transaction market share. Only Bitcoin is above LTC in this regard.

Litecoin whales are back in action

One of the major reasons behind the current LTC price action is strong whale activity. On-chain data provider Santiment reported:

In the past 2 weeks, addresses holding 1k to 100k $LTC accumulated $43.4M in coins en route to the first price jump above $80 since May.

Also, since November 2, the largest whale cohort holding one million to 10 million coins increased their bags. This cohort alone added 2.4 million LTC to their bags.

Courtesy: Santiment

Also, as per on-chain data, Litecoin’s 30-day MVRV (ratio of market value to realized value) has surged above 15 percent hinting at a bit of a danger zone. Thus, we can expect some cool-down in the LTC price going ahead. But the Santiment report notes:

The 365-day MVRV reveals that long-term traders are FINALLY back in positive territory for the first time since December 2nd, 2021. This key turning point could actually signal some short-term optimism that may fuel a price rise after the shorter term trading returns settle down slightly.

Another reason behind the renewed bullish sentiment in LTC is the upcoming reward halving scheduled eight months from now. This is the third-halving event for Litecoin and could bring a positive change in LTC’s supply dynamics.

Der Beitrag Litecoin explodes more than 25% and overtakes Solana to lead in the current bear market erschien zuerst auf Crypto News Flash.

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Sky is a seasoned cryptocurrency expert with a passion for blockchain technology and digital finance. With years of experience in the crypto industry, he has authored insightful articles on market trends, emerging technologies, and investment strategies. His work has been featured in leading crypto publications, helping both beginners and seasoned investors navigate the complex world of digital assets. Sky is dedicated to providing readers with accurate, up-to-date information to make informed decisions in the rapidly evolving crypto space.

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GameChain’s Multi-Chain Ecosystem Poised to Revolutionize Gaming and Propel GAME Token Growth

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1 month ago

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September 25, 2024

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GameChain is at the forefront of transforming the gaming industry by creating a robust ecosystem that brings together developers and players in an unprecedented way. By fostering an environment where both parties can thrive, GameChain is opening up a world of possibilities that extends beyond traditional gaming platforms. Central to this innovation is its broad multi-chain compatibility, which is set to redefine the boundaries of blockchain gaming.

One of GameChain’s standout features is its support for multiple leading blockchain networks, including Ethereum, Arbitrum, Optimism, Polygon, and Avalanche. This extensive compatibility ensures that developers have the flexibility to build and deploy games across various platforms, tapping into different user bases and leveraging the unique advantages of each network. For players, this means access to a wider array of games and assets, all within a seamless and interconnected ecosystem.

The broad multi-chain support not only enhances accessibility but also significantly improves scalability and transaction efficiency. By utilizing networks like Arbitrum and Optimism for their layer-2 solutions, GameChain can offer faster transaction times and lower fees. This technical prowess ensures a smoother gaming experience and encourages more users to participate in the ecosystem.

Based on these groundbreaking developments, industry analysts anticipate that the GAME Token is set to experience substantial growth. The token’s utility across multiple chains and its integral role in transactions, staking, and governance within the GameChain platform position it for increased demand. As more developers and players join the ecosystem, the value of the GAME Token could rise, reflecting its central role in this expanding network.

With its commitment to innovation and community empowerment, GameChain is not just creating an ecosystem—it’s pioneering the future of blockchain gaming. The platform’s multi-chain compatibility and the potential surge in GAME Token value underscore its capacity to reshape the gaming landscape. For developers and players looking to be part of a transformative movement, GameChain offers the tools, community, and opportunities to thrive in the evolving world of Web3 gaming.

For more information, visit the GameChain presale site or join the community on Telegram and X.

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CeFi and DeFi Leaders Converge at Exclusive Pre-TOKEN2049 Singapore B2B’s Executive Night

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1 month ago

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September 15, 2024

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In an era marked by the rapid convergence of traditional finance (CeFi) and decentralized finance (DeFi), the boundaries between these two worlds are becoming increasingly blurred. As the financial landscape continues to evolve at an unprecedented pace, industry leaders are seeking opportunities to navigate this new paradigm and forge meaningful connections.

ChainUp, Singapore-based blockchain solutions company is proud to present the CeFi and DeFi B2B Executive Night, a pivotal gathering for industry leaders and innovators scheduled for September 16, 2024, at CÉ LA VI Singapore, ahead of the Formula 1 Singapore Grand Prix 2024 race weekend. This exclusive Pre-TOKEN2049 event coincides with ChainUp’s 7th anniversary, marking a significant milestone in the company’s journey.

Connect with influential figures and gain insights into the latest trends shaping the digital asset landscape at this exclusive event. Attendees, including founders, CEOs, and top executives from CeFi, DeFi, technology, and investment sectors, will engage in in-depth discussions covering the full spectrum of the digital asset industry. These discussions will encompass the convergence of CeFi and DeFi, institutional adoption, regulatory developments, and the transformative potential of Web3, fostering an environment ripe for innovation and strategic partnerships.

Reflecting on a year of resilience and growth in a challenging market, ChainUp’s COO, Chung Ho emphasized: “This premier gathering not only celebrates our 7th year but also underscores our commitment to driving innovation within the increasingly regulated financial landscape. As ChainUp strategically moves towards the regulated space, we’re excited to connect with industry leaders, share insights, and collectively shape the future of finance.”

The pre-TOKEN2049 CeFi and DeFi B2B Executive Night are joined by co-organizers, B2 Network, a modular Bitcoin (BTC) L2 DeFi ecosystem that introduces B2 rollup to users and developers; Sinohope, a Hong Kong-listed digital asset custody and management service provider; Diamond sponsors Huawei Cloud, a leading provider of innovative cloud solutions that empower business digital transformation; Gold sponsors Odyssey, explore a new era of Memcoins with Odyssey Exchange, eventflo, a data-driven Web3 event management platform powered with FloCoin incentivization, exSat, a groundbreaking BTC docking layer solution that enhances BTC’s scalability; Silver sponsors Pell, a BTC restaking platform build on Omnichain Trust Network; eCloudrover, an AI-centric cloud solutions service provider for business digitalization; Supported by fractl, Blockchain Association Singapore, and Singapore Fintech Association.

For more information and continued updates on CeFi and DeFi B2B Executive Night, please visit ChainUp’s official website event page. Tickets are now available for purchase on our Lu.ma event page. 

About ChainUp

ChainUp, a Singapore-based blockchain tech provider, offers solutions for the future of finance, including white-label exchange softwares, award-winning digital asset custody solutions, and more. With over 1,000 clients and reaching 60 million end-users, ChainUp is a trusted partner for Web3 founders and institutions.

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A fresh take on crypto: Saitama Inu transforms into the Saitama Kingdom Token

Published

2 months ago

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August 12, 2024

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In a spectacular turn of events, the beloved Saitama Inu is back, reigniting the WolfPack community with the launch of the Saitama Kingdom Token. This new meme token aims to bring back fun in crypto with games and rewards, and strengthen the unity of the WolfPack community. 

A New Era for the WolfPack Community

First, there was the Saitama Inu meme token that captured the hearts of many. It evolved into Saitama, a utility token, and then into the powerful SaitaChain Coin (STC).

Now, SaitaChain introduces a whole new meme token, Saitama Kingdom Token, designed to reignite the fun in crypto. Built on the robust layer 0 SaitaChain Blockchain, the WolfPack community is set to embark on an exciting new adventure with the ultimate meme token.

Reborn as the Saitama Kingdom Token, this token is designed to infuse the crypto world with excitement and engagement. With Saitama the Wolf as its mascot, the token is set to deliver interactive games, enticing prizes, and wild rewards. This is not just a token; it’s an experience created to bring joy and camaraderie to the crypto world.

Community-Driven Success

Inspired by the legendary strength and unity of the WolfPack community, Saitama Kingdom Token is poised to build a thriving crypto kingdom. It’s a call to all enthusiasts to join this dynamic and fun-filled journey. The Saitama Kingdom Token is more than just a comeback; it’s a celebration of community spirit and shared success.

Exciting Rewards and a World of Entertainment

It also extends a warm invitation to friends worldwide to explore the Crypto Kingdom and shares the exciting news that a free SaitaCard will be given with every generous purchase of Saitama Kingdom tokens, strengthening the bond between the SaitaChain ecosystem and the vibrant Wolfpack community. (T&C apply)

A Legendary Legacy

Saitama Inu’s return as the Saitama Kingdom Token marks a legendary comeback in the crypto realm. With a commitment to redefining meme and game coins, Saitama stands tall, proud of the flourishing kingdom he has helped create, calling all crypto lovers to join the adventure and be part of the community-driven success story that is Saitama Kingdom Token.

SaitaCard: Your Crypto, Your Way

Explore the Crypto Kingdom and enjoy exciting rewards, including a free SaitaCard with every generous purchase of Saitama Kingdom tokens. (T&C apply)

SaitaCard, a virtual and physical crypto debit card powered by Visa, allows hassle-free management for all your digital assets. Compatible with the SaitaPro app, users can enjoy complete control of their assets through the app. The crypto card is available in over 155+ countries, with fund loading through various cryptocurrencies, swipe, online, and tap-to-pay payment options, and ATM withdrawal anywhere in the world. Moreover, with crypto withdrawal at any time and multi-currency IBAN accounts, this card is making everyday purchases seamless and convenient.

SaitaChain Blockchain: Powering up the Future

Built on the cutting-edge SaitaChain Blockchain (SBC), the Saitama Kingdom Token benefits from unparalleled scalability, security, and low transaction costs. As a layer zero blockchain, SaitaChain provides a foundational infrastructure that supports high-throughput applications and cross-chain compatibility, enabling different blockchain networks to communicate seamlessly.

The layer 0 architecture enhances the overall efficiency and interoperability of the blockchain ecosystem. With a strong global community of over 400k members, SaitaChain is set to revolutionize the future of digital transactions.

For more details, stay tuned to discover the journey paved for the Saitama Kingdom Token. This is a comeback for the ages, where the wolves rule and the fun never ends!

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