The traders from the crypto market remain alert, with their radar set on potential cryptos. As the world moves half-past November. Litecoin is one of the coins, which has been of interest among crypto enthusiasts. The 10-year old crypto has been growing in presence among enthusiasts in the community. On the other hand, investors are keen on LTC’s price movements.
Litecoin A Rising Star?
Litecoin is on a steady incline, with its growing utility and prominence across the industry. Adam Aron CEO of AMC theatres has made announcements that Litecooin will be accepted as a payment option alongside other cryptos. He further mentions that digital currencies account for 14% of the firm’s total online transactions.
Another important move by the platform is the introduction of the Litecoin Card. Which is a Litecoin fintech platform powered by Unbanked. That enables the conversion of cryptocurrency into real-world utility and gives more hold over the money. It allows seamless deposits of cryptocurrency that are converted into dollars. It further supports Apple pay and Google pay.
According to Lunar Crush, Litecoin’s social volume is up by 172.6%, social engagement by 119.5%. Social dominance by 113.8%, and bullish sentiment by 128%. Which are up for the past week. Moreover, it ranks the second position in top influencers.
Litecoin Price Hurdling Over Odds!
The second week of November had begun with a positive note for LTC price. Where the price can be seen trekking towards the north. The digital asset at press time is trading at $274.23 gaining about 8.7%. While the market cap of the 14th largest crypto is about $18,915,545,666. The volume of trades for the last 24-hours is around $2,997,008,931.
The digital asset has risen from $206.45 on the 8th of November, to the wick brushing the $300 milestone. The digital coin has been consolidating post the leg-up. However, the altcoin is attempting to stay above the level of $270, with the trade volumes picking up pace.
A double-bottom formation is visible on the chart. The altcoin has broken above the neckline and has tested the neckline again. Prior to its uphill trek towards the ATH, and then to the $400 milestone. The coin might trace the path towards the $500 levels if the situation favors.
On the flipside, LTC price could fall to levels of $245 if it loses out on steam. Similarly, constant lows could take it to levels from the past fortnight, which seems unlikely.
Collectively, Litecoin has been one of the prominent picks of traders in the space. The Litecoin community is also growing at an appreciable pace. Which is vital for the growth of any platform. With the alt season on the horizon, we can expect LTC’s price to achieve newer targets.
