More than 40 million LTC coins remain locked for a year while the asset gains more attention at the start of the year, signaling a rally and reaching the $50 level again as we are reading in the Litecoin news today.
The Litecoin network has a smaller number of transactions but there are a lot of whales and holders that wait for the perfect time. The recent research reveals that more than 63 million LTC is in circulation while 40 million LTC coins have been locked for over a year. The researchers also tracked some of the coins to a few exchanges and others belong to buyers or early adopters that acquired the coins over the years. Franklyn Richards at Litecoin.com commented:
“Even taking this into consideration, the main conclusion one may make from this data is that there are a significant number of coins now held by strong hands and long term bulls who have been accumulating and thusly removing potential downward pressure on the markets.’’
Litecoin is now on a new path after the harsh correction phase of above $140 and also the latest halving for the coin only brought a lot of gains in the months prior to the halving rather than the time after the halving. The coin is still highly liquid and has about $4.7 billion in volumes. The asset is present on the bigger exchanges and on some futures market additions on OKEx. Litecoin is seen as a pretty reliable coin with the potential for a significant increase during bull rallies.
The last hopes for Litecoin (LTC) signal a new BTC rally as the two assets showed decent proximity and a lot of support from the communities and supporters. Litecoin (LTC) traded at $50.45 which is an increase of 16 percent in the second half of the month and is now recovering trying to surpass the 0.006 lows. The most recent price moves show that Litecoin could even become more active in the upcoming days since it is extremely popular in the Asian markets. The fact that Litecoin soared as one of the most impressive altcoins lately is also one that shows us that altcoins are regaining their confidence in the current market.
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