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

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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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LedgerFi’s ($LFT) Token Pre-sale: More than 8% sold out in less than 30 min on XDC Sale

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LedgerFi, a leading decentralized web 3.0 secure communication platform built on the XDC Network, is excited to announce that their token sale will commence on March 14th, 2021 on XDC Sale. The token sale will offer investors the opportunity to purchase the native $LFT tokens of LedgerFi and join an innovative ecosystem of Decentralized Communication Service integrated with Decentralized Finance for enabling the seamless exchange of digital assets through a unified platform. 

LedgerFi has envisioned to become the world’s first Decentralized Digital Asset Exchange (DDAX) platform through which users can transfer all types of digital assets with a military grade security, cryptographic encryption, privacy and prevention from cyber attacks using the power of Blockchain technology.

LedgerFi is a one-stop-shop for DeFi users that provides access to various communication protocols and services in the industry such as Ledger Mail which is already live in the market and it has 750K users exchanging 2M+ emails,and upcoming products like

  • Ledger Chat: The Decentralized Instant Messaging Solution enabling users to instantly chat with peers without worrying about centralized governance. LedgerChat allows users to seamlessly communicate with each other without compromising their Digital Identity & Data Sovereignty. It’s in beta at the moment.
  • Ledger Live: The Decentralized Audio & Video Call Platform allows individuals & businesses to connect with each other in real-time. The centralized access point utilized in conventional VoIP solutions is eliminated with blockchain based communication technologies. Eliminating the hassle of handling centralized, cumbersome & hackable legacy platforms with the high-performing next-gen solution. Instead, a blockchain based communication system sends the signal from the calling party to a receiving number, which is then replaced by a dispersed network shared by all network users.
  • Ledger Pay: The Decentralized Cross-Border Remittance platform providing human-readable, interoperable & lightning-fast payment transfer capabilities for financial inclusion of the unbanked individuals.
  • Ledger Mint: Metaverse Interconnected NFT Transfer Hyper-personalized social connectivity for transferring, exchanging & showcasing NFTs and other digital assets through an interactive & interconnected platform.

Token Sale Details

  • Presale Address: 0x7db6AaF98bDFE47f197a3b1bbC3Cfe6CB0f302c4
  • Token Address: 0x65d358C56Ff2E64C007060D5D4dF308986734f5C
  • Total Supply: 400,000,000 LFT
  • Soft Cap: 7,500,000 XDC
  • Hard Cap:15,000,000.0 XDC
  • IDO Rate: 1.5 LFT per XDC
  • Listing Rate: 1.0 LFT per XDC
  • Liquidity %: 51
  • Min Contribution: 4,000 XDC
  • Max Contribution: 400,000 XDC
  • IDO Start Time: 14 Mar 2023, 19:30
  • IDO End Time: 05 Apr 2023
  • Liquidity Unlock Date: 05 May 2023

About LedgerFi

LedgerFi provides a web 3.0 communication service built on blockchain technology for secure communication through email, chat & payment applications. LedgerFi provides blockchain based Decentralised communication service & Decentralised Digital Assets Exchange for secure communication.

Media contact

ZEX PR WIRE

ag@zexprwire.com

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Terra Casino That Could Burn 24 Billion LUNC within 6 Months Goes Live

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Terra Casino, an online bookie dedicated to burning LUNC tokens, has been launched. Although the transparency of Bookie’s LUNC Burn is still a thing of concern within the Terra Classic community, it has the capability of burning about 24 billion LUNC within six months. The new development was announced via the official Twitter handle of […]

The post Terra Casino That Could Burn 24 Billion LUNC within 6 Months Goes Live appeared first on Times Tabloid.

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Bank of America to Leverage Ripple ODL Services Once XRP Lawsuit Ends, Garlinghouse Affirms

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Ripple, the crypto solutions company which offers cross-border payment services is also known for its On-Demand Liquidity (ODL) merchandise. Whereas numerous fintechs have partnered with Ripple to use its ODL services, the ongoing XRP lawsuit has hindered more enterprises from joining forces with the San Francisco-based crypto firm. Among the financial companies halting their adoption […]

The post Bank of America to Leverage Ripple ODL Services Once XRP Lawsuit Ends, Garlinghouse Affirms appeared first on Times Tabloid.

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